EIH Q1 net profit declines 63.3% to ₹33.9 crore on exceptional loss

EIH's net profit fell to Rs 33.9 crore in Q1FY26 due to a Rs 110.49 crore exceptional loss on its Mashobra Resort investment, Tirupati project, and Kolkata renovation

East India Hotels (EIH), the operator of the Oberoi group of hotels, reported a 63.3 per cent year-on-year (Y-o-Y) decline in consolidated net profit to Rs 33.9 crore in the April–June quarter of FY26. The decline was due to an exceptional loss of Rs 110.49 crore recorded during the quarter.

 

The company’s exceptional items included derecognition of property, plant and equipment at The Oberoi Grand, Kolkata, owing to the hotel’s closure for major renovation during the quarter and year ended 31 March, amounting to Rs 9.95 crore. It also reported an impairment loss of Rs 10.05 crore related to its hotel project in Tirupati.

 

Additionally, EIH noted a loss of Rs 128.21 crore on its investment in Mashobra Resort, which remained a subsidiary until March 2025.

 

The company’s revenue from operations rose by 8.9 per cent to Rs 573.6 crore in Q1FY26 compared to the same quarter last year.

 

EIH, which operates 19 hotels across six countries, saw its profit before interest, depreciation and tax (PBIDT) increase by 17.4 per cent to Rs 203.9 crore in the quarter ended 30 June on a Y-o-Y basis.

 

The company’s other income rose by 6.3 per cent to Rs 35.5 crore during the April–June quarter compared with the same period last year.