EIH tumbles on Q2 net loss

The stock recovered from the day's low and ended at Rs 126 - down 1.6%. The counter clocked a volume of 196,956 shares on the BSE today.
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(Updated at 1000 hrs)

EIH has slumped in opening trades on the back of a Q2 loss of Rs 9.6 crore.

The stock opened at Rs 120 and slipped further to a low of Rs 117 - down 8.5% from the previous close. The stock has now recovereed somewhat and is trading with a loss of 5.6% at Rs 121.

Over 30,952 shares have been traded on the BSE so far.

The company posted a net loss of Rs 9.65 crore in the quarter ending September 2009. The company had made a net profit of Rs 31.3 crore in the corresponding period a year ago. Net sales was down 33% at Rs 156 crore as against Rs 234.2 crore.

However, EIH said its performance for the first half of the year was not indicative of its annual result due to the seasonal nature of the domestic hotel industry.