EIH posts net profit of Rs 7 crore in Q2

NEW DELHI: Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands, today reported a net profit of Rs 7.03 crore for the quarter ended September 30, 2013 on the back of improved sales and profit on sale of a part of shareholding in Mercury Car Rentals.

The company had registered a net loss of Rs 18.30 crore for the corresponding period of the previous fiscal, EIH said in a statement.

Total income rose to Rs 266.45 crore for the quarter under consideration from Rs 234.47 crore for the same period a year ago, it added.

For the six months ended September 30, 2013, the company posted a net profit of Rs 17.58 crore. It had registered a net loss of 8.85 crore for the same period year ago.

Founded in 1934, Oberoi Group operates 30 hotels, a Nile Cruiser and a Motor Vessel in the backwaters of Kerala. The Group has presence in six countries under the luxury 'Oberoi' and five-star 'Trident' brand.

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

Shares of EIH today closed at Rs 55.70 per scrip on BSE, up 2.96 per cent from its previous close.