EIH profit up 80 per cent at ₹186.9 crore in third quarter

EIH Ltd posted a profit-after-tax ₹186.9 crore in Q3 FY24, up 79.8 per cent year-on-year.

Revenue increased by 29.7 per cent year-on-year (YoY) to ₹680.1 crore, while EBITDA increased by 60 per cent to ₹308.4 crore.

Arjun Oberoi, Executive Chairman, EIH Ltd, said, “I am pleased to report that in the third quarter of fiscal year 2023-2024, our company achieved exceptional financial results, with a notable rise in revenue and profitability over previous years. This success is a testament to our team’s dedication and strong commitment to providing our guests with an exceptional hospitality experience. I extend my heartfelt thanks to our guests and partners for their continued support.”

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EIH, the parent company of the Oberoi chain of hotels, leveraged the resurgence in luxury travel, positioning itself as a preferred choice for travellers, and contributing significantly to the revenue surge. The hotel chain said it was agile in adjusting room rates in response to escalating demand, a key factor contributing to overall revenue growth.

Vikram Oberoi, CEO & MD, EIH Ltd., added, “Our company’s financial performance in Q3 of 2023-2024 reflects our commitment to our guests and the meaningful and personalised service we provide. We are grateful to our guests for their trust and to our teams for their dedication. Our strong financial position will enable us to achieve continued growth.”

Implementation of cost-saving measures played a crucial role in enhancing profitability, reflecting EIH’s commitment to sustainable growth and financial resilience, it said.

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EIH owns and manages 30 hotels and resorts across 14 destinations in six countries. Its portfolio includes Oberoi Hotels and Resorts, Trident, Maidens and other businesses, including flight kitchens and lounges in India.

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