EIH Q2 net loss stands at Rs 119 cr

The hotel-chain reported a net loss of Rs 118.77 crore in Q2 September 2020 as against net profit of Rs 30.55 crore in Q2 September 2019.

Consolidated net sales slumped 78.6% to Rs 71.92 crore in Q2 September 2020 compared with Rs 335.68 crore in Q2 September 2019. Pre-tax loss stood at Rs 154.51 crore in Q2 September 2020 as against a pre-tax loss of Rs 13.81 crore in Q2 September 2019. The Q2 result was declared post trading hours yesterday, 4 November 2020.

Post lifting of the lockdown, business at hotels and restaurants has gradually started picking up, especially at leisure locations. With respect to business in financial year ending 31 March 2021, the impact on revenue could come from further travel restrictions, if any, and guests postponing their discretionary spending. The company's and its subsidiary's flight kitchens catered to various airlines operating repatriation flights, crew and cargo flights, and the company's flight kitchen continues to cater to domestic flights and to international 'Air Bubble' flights since July, 2020, the company said.

Shares of EIH rose 0.07% to Rs 74.20 on BSE.

EIH, under the aegis of The Oberoi Group, operates hotels and cruisers in five countries under the luxury 'Oberoi' and five-star 'Trident' brands. The Group is also engaged in flight catering, airport restaurants, travel and tour services, car rentals, project management and corporate air charters.

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