EIH Ltd that operates hotels and resorts under Oberoi brand, today posted 32.70% decline in the net profit for the fourth quarter ended March 31, 2012 at Rs 45.13 crore.
The company's net profit for the three months ended March 31, 2011 was Rs 67.06 crore, it said in a filing to the BSE.
The decline in net profit during the quarter under review was mainly due to 'other income' of Rs 93.31 crore, which it had in the year ago-period. In the fourth quarter of FY12, the company's other income stood at Rs 2.72 crore.
EIH Ltd further said its total expenditure in the quarter under review increased to Rs 261.63 crore, compared to Rs 252.20 crore in the fourth quarter of 2010-11.
Net sales during the quarter under review increased 1.09% to Rs 319.60 crore, against Rs 316.13 crore in the fourth quarter of 2011-12, the company said.
The firm's net profit for the year ended March 31, 2012 grew 89.68% to Rs 122.42 crore, from Rs 64.54 crore in 2010-11.
Its net sales for the year increased 7.23% to Rs 1,101.79 crore, against Rs 1,027.50 crore in 2010-11.
The company's board of directors have recommended dividend of Rs 1.10 per share of Rs two face value for shareholders' declaration at the ensuing Annual General Meeting.
EIH Ltd's scrips were trading at Rs 77 per share, down 0.52% from the previous close on the BSE.