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Reports a 33% jump in Q4 net profit

Kolkata, May 01, 2015:

EIH Ltd is looking to make operational three hotels in the first six months of next year (calendar year 2016).

The three hotels set to be operational are The Oberoi Al Zorah at the United Arab Emirates (UAE), The Oberoi, Marrakech in Morocco and The Oberoi Sukhvilas at Chandigarh.

According to Vikram Oberoi, Managing Director and Chief Executive Officer, EIH Ltd, “The Oberoi Al Zorah” in UAE is currently under construction. Apart from the hotel, it will also have a luxury residential and retail development and an 18-hole golf course.

“The hotel will be managed by a wholly owned overseas subsidiary of the company and is expected to open in the second quarter of 2016,” he was quoted in a release issued by the company.

Profit up 33% in Q4

Meanwhile, EIH reported a near 33 per cent jump in net profit (standalone) to Rs. 48 crore for the quarter ending March 31, 2015, against Rs. 36 crore in the corresponding period last year.

During the period, its income from operations increased by 9 per cent to Rs. 393 crore – up from the Rs. 360 crore it reported in the year-ago-period.

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