Calcutta, May 28: EIH Ltd, the flagship of the Oberoi group, has reported a 21 per cent lower net profit of Rs 96.41 crore for the year ended March 31, 1999 compared with the previous year's Rs 123.25 crore, according to the audited financial results approved by the company's board on Friday.The board has, however, proposed a dividend of 50 per cent, the same that was paid last year.
Gross profit (after interest but before tax, depreciation and extraordinary items) was Rs 132.32 crore (Rs 153.44 crore), down 13.7 per cent.
The turnover improved marginally to Rs 440.51 crore compared with last fiscal's Rs 434.42 crore. The earning per share has also dropped from Rs 23.53 in 1997-98 to Rs 18.40 in 1998-99.
The total expenses has registered an eight per cent jump to Rs 329.09 crore this year from last year's Rs 304.96 crore. The total payout on account of dividend and tax will be Rs 29.08 crore.
The foreign exchange earnings have dipped from Rs 45 crore in 1997-98 to Rs 37 crore in 1998-99 because ofa lower tourist traffic in the aftermath of the Pokharan blasts last year.
The company has a paid-up equity capital of Rs 52.39 crore and total reserve amount (excluding revaluation reserve) of Rs 645.26 crore.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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