EIH Q1 net dips 38.83 pc at Rs 9.45 cr

Hospitality major EIH, which operates the Oberoi and Trident brands of hotels and resorts, today reported 38.83% dip in net profit to Rs 9.45 crore for the quarter ended June 30, 2012, mainly on account of declining sales.

The company had posted a net profit of Rs 15.45 crore for the quarter ended June 30, 2011, EIH said in a filing to BSE.

Total income of the company also declined to Rs 241.95 crore for the quarter under consideration from Rs 246.55 crore for the same period year ago.

During the quarter under review, the company's hotel segment posted revenues of Rs 229.68 crore, as compared to Rs 231.37 crore during the same period of previous fiscal.

EIH Limited, under the aegis of The Oberoi Group, operates hotels and cruisers in five countries under the 'Oberoi' and 'Trident' brands.

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 80.80 on BSE, up 1.64% from its previous close.