EIH Limited profit up by 108%, EPS at Rs.1.33

UNAUDITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30th SEPTEMBER 2006

• Profit After Tax up by 108%
• Profit Before Tax Extraordinary Income and Tax increases by over 120%
• EPS at Rs.1.33 as against Re.0.64

The Board of Directors of EIH Limited, a Member of The Oberoi Group met today to approve the Unaudited Financial Results for the quarter and six months which ended on 30th September 2006.

Though the first half-year is not the best period for the Indian Hotel Industry due to its seasonal nature, the Company has been able to increase both occupancy levels in the hotels as well as the Revenue Per Room (Rev Par) . The Rev Par has increased by over 34%.

The total Income increased from Rs.316.27 crores to Rs.411.44 crores which is an increase of 30% for the six months which ended on 30th September, 2006.

The Operating Profit at Rs.131.93 crores recorded an increase of over 56% compared to the corresponding six month period in the previous year.

The Profit before Tax and Extraordinary Income increased to Rs.66.00 crores from Rs.29.91 crores during the corresponding period in the previous year - an increase of over 120%.

The Profit After Tax at Rs.52.14 crores represents an increase of 108% as compared to the corresponding period in the previous year. The Earnings Per Share (EPS) is Rs.1.33 as against Re.0.64 in the corresponding period in the previous year.

The demand for hotel accommodation in the country is growing . Barring unforeseen circumstances, the Company expects a substantial improvement in its performance, during the second half-year.

Source : Equity Bulls

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