Operating profit during 2002-03 was Rs 81.32 crore as against Rs 96.24 crore in 2001-02. The financial results were approved by the board of directors on Thursday which also recommended a dividend of Rs 3 per share (30 per cent), stated a company press release.
EIH has also decided to delist its equity shares from the Chennai and Delhi stock exchanges as there has been no trading in the shares of the companies at these exchanges during over the past two years. EIH shares will continue to be listed as Bombay Stock Exchange, National Stock Exchange and Calcutta Stock Exchange.
EIHs chairman P.R.S. Oberoi said business during the year was not satisfactory. He said the Indian travel and tourism industry has been traumatised by a combination of events such as September 11, 2001 attacks in the US, attack on the Indian Parliament in December 2001, the tension on India-Pakistan border in the spring and summer of 2002 and the travel advisories which severely affected visitor arrivals in the country.