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EIH Q2 net loss at Rs 118.77 cr due to coronavirus pandemic impact

The company had posted a net profit of Rs 30.55 crore for the corresponding period of the previous fiscal, EIH said in a BSE filing

EIH | Q2 results

Press Trust of India  |  New Delhi 

hotels, resort, tourism, hospitality

Hospitality firm Ltd, which runs hotels and resorts under the Oberoi and Trident brands, on Wednesday reported a consolidated net loss of Rs 118.77 crore for the quarter ended September on account of the impact of the COVID-19 pandemic.

The company had posted a net profit of Rs 30.55 crore for the corresponding period of the previous fiscal, said in a BSE filing.

Consolidated total income of the company stood at Rs 84.80 crore for the quarter under consideration. It was Rs 351.17 crore for the same period a year ago.

A nationwide lockdown was imposed across India on March 24, 2020, whereby hotel operations were mandated to remain non-operational for different periods across various states in the country.

This had a severe impact on business at the company's and its subsidiaries' hotels and other operations acrossIndia and overseas for the half-year ended September 30, 2020, the filing said.

Similar restrictions in other countries also affected business from various international markets, it added.

Post lifting of the lockdown, business at hotels and restaurants have gradually started picking up, especially at leisure locations, the filing said.

Shares of Ltd closed at Rs 74.15 per scrip on BSE, down 0.27 per cent from its previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, November 04 2020. 22:32 IST