EIH hits record high after Q3 PAT climbs 52% YoY to Rs 230 cr

EIH surged 15.54% to Rs 410.35 after the company's consolidated net profit jumped 52.2% to Rs 229.94 crore in Q3 FY24 as compared with Rs 151.08 crore in Q3 FY23.

Revenue from operations increased 26.41% YoY to Rs 741.26 crore in Q3 FY24.

During the quarter EBITDA stood at Rs 353 crore, registering the growth of 56.3% YoY.

In Q3 FY24, average room rate (ARR) was Rs 19,985 crore as compared with Rs 16,737 crore in Q3 FY23 while occupancy improved to 79% from 77% Q3 FY23.

Net cash stood at Rs 684 crore as on 31 December 2023 as compared with Rs 256 crore as on 31 December 2022.

Vikram Oberoi, CEO & MD, EIH, said, Our company's excellent financial performance in Q3 of fiscal year 2023-2024 reflects the commitment we have for our guests and the meaningful and personalised service we provide. We are grateful to our guests for their trust and to our teams for their dedication. Our strong financial position will enable us to achieve continued growth.

Arjun Oberoi, executive chairman, EIH, said, our company achieved exceptional financial results, with a notable rise in revenue and profitability over previous years. This success is a testament to our team's dedication and strong commitment to providing our guests with an exceptional hospitality experience. I extend my heartfelt thanks to our guests and partners for their continued support.

EIH owns and operates an exceptional portfolio of hotels and resorts under the prestigious 'Oberoi' and 'Trident' brands in India and abroad.

The scrip hit an all-time high at Rs 358.10 in intraday today.

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