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EIH Q2 net loss at Rs 18.30 cr

Hospitality major EIH,which runs the Oberoi and Trident brands of hotels and resorts,today said it has posted a net loss of Rs 18.30 crore for the quarter ended September 30,2012 due to occupancy being impacted by seasonal nature of the hotel industry.

Written by Agencies | New Delhi | November 2, 2012 8:53:49 pm

Hospitality major EIH,which runs the Oberoi and Trident brands of hotels and resorts,today said it has posted a net loss of Rs 18.30 crore for the quarter ended September 30,2012 due to occupancy being impacted by seasonal nature of the hotel industry.

The company had posted a net profit of Rs 16.59 crore for the quarter ended September 30,2011,EIH Ltd said in a filing to BSE.

Total income of the company also declined to Rs 234.47 crore for the quarter under consideration from Rs 240.65 crore for the corresponding period of previous fiscal.

“The results for the first half year are not indicative of a full year’s working due to the seasonal nature of Indian hotel industry,” EIH said.

The Oberoi Group is also engaged in flight catering,airport restaurants,travel and tour services,car rentals,project management and corporate air charters.

Shares of EIH Ltd today closed at Rs 75.50 per scrip on BSE,down 0.20 per cent from its previous close.

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