EIH advances after turnaround Q1 result

EIH rose 2% to Rs 135 at 12:21 on BSE after the company reported net profit of Rs 11.52 crore in Q1 June 2017 as compared with net loss of Rs 12.24 crore in Q1 June 2016.

The result was announced after trading hours yesterday, 1 August 2017.

Meanwhile, the S&P BSE Sensex was down 18.50 points, or 0.06%, to 32,556.67. The S&P BSE Mid-Cap index was down 32.74 points, or 0.21% at 15,425.57

On BSE, 11,000 shares were traded in the counter, compared with an average daily volume of 81,038 shares in the past one quarter. The stock hit a high of Rs 138.20 and a low of Rs 133.50 so far during the day. The stock hit a 52-week high of Rs 148.40 on 22 May 2017. The stock hit a 52-week low of Rs 85.90 on 9 November 2016.

The stock had underperformed the market over the past one month till 1 August 2017, falling 1.49% compared with 4.34% rise in the Sensex. The scrip had underperformed the market in past one quarter, declining 1.38% as against Sensex's 8.97% rise. The scrip had also underperformed the market in past one year, rising 13.95% as against Sensex's 16.42% rise.

The mid-cap hospitality company has an equity capital of Rs 114.31 crore. Face value per share is Rs 2.

EIH reported 8.66% rise in total income to Rs 302.88 crore in Q1 June 2017 over Q1 June 2016.

EIH said that The Oberoi, New Delhi was scheduled to open in early April 2018, after complete renovation. The progress on site has been very satisfactory and the hotel is now likely to open in January 2018, EIH said.

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

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