EIH Ltd, the Hospitality chain, which owns and operates hotels under the Oberoi and Trident brands, has announced its Q2 result yesterday. The company reported a decline of 58.98 per cent in its standalone net profit at Rs 3.79 crore for the quarter ended September 2016 as against Rs 9.24 crore during the same period last financial year.
EIH share price didn’t seem to hold the burden of declined profit as it continued to trade green today. The stock went up 1.71 per cent up during the trade on NSE today against the 0.60 per cent decline in the Benchmark Index Nifty.
The company's net sales during the period under review stood at Rs 272.56 crore in comparison with Rs 299.10 crore in the same period last financial year, a decline of 8.87 per cent.
The total expenses of the company came down to Rs 286.91 crore as against Rs 295.59 crore in the same period last financial year.
The company said that the results of the first half year are not symptomatic of the full year's working due to the seasonal nature of the Indian hotel industry.
Meanwhile, EIH share price closed at Rs. 107.90 and was last traded at Rs. 108 with the marginal decline of 0.09 per cent. A total of one lakh thirteen thousand shares changed hands over the NSE trading counter today.
It further stated that exceptional items, other than for the six months ended 30th September 2015 represented write off assets arising out of the restoration at The Oberoi, New Delhi. Exceptional items for the six months ended 30th September 2016 represented profits on the sale of a property in Darjeeling, West Bengal, the company said in a BSE filing.
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