Total Revenue has Marginally Increased; The Oberoi, Dubai and Trident,
Hyderabad opening June, 2013; Dividend 45%
KOLKATA, May 30, 2013
KOLKATA, May 30, 2013 /PRNewswire/ --
The Board of Directors of EIH Limited (a member of The Oberoi Group) met on
Thursday, 30 ^th May, 2013 and announced the Audited Results for the Financial
The Company's Total Revenue, including Other Income, during the Financial Year
was INR 1,177.01 crores compared to INR 1,162.21 crores during the previous
EBIDTA during the Financial Year was INR 244.35 crores compared to INR 291.37
crores during the previous year.
The Profit before Tax and exceptional/Extraordinary items was INR 98.59 crores
compared to INR 143.85 crores during the previous year. The Profit after Tax
was INR 50.96.
The Consolidated Total Revenue, including Other Income was INR 1,504.57 crores
compared to INR 1,449.22 crores in the previous year.
The Board recommends a dividend at INR 0.90 per Equity Share.
Mr. S.S. Mukherji, Vice Chairman and Chief Executive Officer stated, "The
performance of the hotel industry is directly connected with global and
domestic economic growth. The global economic growth rate reduced to 3.5% in
2012 compared with 4% in 2011. The situation in India mirrored this global
trend. India's growth rate fell to 5.5% driven by lower industrial production
in core sectors, slow internal investment, reduced urban consumption and high
Mr. Mukherji further added, "The flight kitchen at Indira Gandhi International
Airport, New Delhi opened in July 2012. This state of the art kitchen will
produce 15,000 meals per day to cater to domestic and international airlines.
The facility has been well received by the airline industry. The unit has
reported a thirty percent increase in overall business."
Trident, Hyderabad consisting of 326 keys is scheduled to open in June 2013.
The Company will manage the hotel.
The 252 key, The Oberoi, Dubai is scheduled to open in June 2013. The Oberoi,
Dubai will be managed by a wholly-owned subsidiary.
Mr. Mukherji concluded by saying, "The long term confidence on the Indian
Hospitality Industry is however positive."
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