EIH Net Rises 34% to .` 36.4 cr Despite Slowdown
East India Hotels (EIH), which operates the Oberoi chain of hotels, has reported a 34.8% rise in its net profit for the quarter ended March at .` 36.44 crore from .` 27.04 crore a year ago. Total revenues for the quarter rose 2% to .` 359.6 crore from .` 352.62 crore a year back. Net profit for the financial year 2013-14 rose 86.5% to .` 95.04 crore from .` 50.96 crore a year ago, while total revenues for the year rose 8.2% to .` 1,252.16 crore from .` 1,156.75 crore the previous year. “Despite the depressed market conditions, the company has recorded a healthy revenue increase over the previous year and significant growth in profitability,” said SS Mukherji, vice-chairman and chief executive officer of EIH, in a statement.