Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands, today reported a net profit of Rs 9.48 crore for the first quarter ended June 30. The company had posted a net loss of Rs 12.96 crore in April-June quarter a year ago, EIH Ltd said in a BSE filing. EIH Ltd’s total revenue was up 8.66 per cent to Rs 303.26 crore during the quarter as against Rs 279.09 crore in the corresponding period of the previous fiscal.
Total expenses stood at Rs 285.02 crore, up 1.87 per cent as against Rs 279.77 crore in the corresponding period a year ago.
Meanwhile, the company informed that it is likely to open The Oberoi, New Delhi in January next year. “The Oberoi, New Delhi was scheduled to open in early April, 2018 after complete renovations. The progress on site has been satisfactory. The hotel is now likely to open in January 2018,” the company said. Shares of the company today settled 4.54 per cent lower at Rs 132.35 apiece on BSE.