Business Standard

EIH Ltd reports its highest ever full-year consolidated revenue in FY22-23

EIH Limited, India's premium hospitality company, reported its consolidated financials for the fourth quarter and full year ending March 31st, 2023

The combined net profit of 20 cyclical companies in the index is expected to grow by 38.8 per cent YoY to Rs 1.01 trillion

IANS

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New Delhi, May 23 (IANSlife) EIH Limited, India's premium hospitality company, reported its consolidated financials for the fourth quarter and full year ending March 31st, 2023.
Commenting on the FY23 performance, Vikram Oberoi, Managing Director and CEO, of EIH Limited, said, "FY23 has been a record year for EIH Limited, reporting the highest ever full-year consolidated revenue, EBITDA and PAT. Hotels managed by EIH Limited achieved an industry-leading Rev PAR index of 127 percent for FY23, on the back of an ARR index of 120 per cent. We would like to acknowledge the significant contribution of our Chairman Emeritus, PRS Oberoi in creating a very strong foundation for the Company and building some of the world's finest hotels on the base of which these results have been achieved."
"Our exceptional performance is a testament to our unwavering commitment to quality, our premium positioning, and our meticulous attention to detail. We're not just about iconic hotels; we're about creating unforgettable experiences," added Arjun Oberoi, Executive Chairman, of EIH Limited.
"During the year, the Company also forayed into additional business segments including management of the 'Bay Club', a world-class members club, and shortly launching our first standalone high-end lifestyle restaurant 'Amadeo by Oberoi' in Mumbai. EIH will continue to expand on these and other business opportunities, offering discerning guests the best experience in hospitality. Our flight and airport catering business has rebounded strongly and continues to build on its reputation and profitability by providing quality services to leading international and domestic airlines."
In conclusion, Vikram Oberoi stated, "FY23's extraordinary performance is a tribute to the passion and unwavering commitment of the EIH team who place the needs and wellbeing of our guests above all else. Our focus remains steadfast on creating value for our stakeholders through profitable operations and strategic expansion."
(IANSlife can be contacted at ianslife@ians.in)
--IANS
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(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: May 23 2023 | 4:47 PM IST

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