Q1FY19 Results: EIH Hotels posts stable results
EIH Hotels reported steady performance for Q1FY19 with deterioration in bottom-line.
The Total revenue for the quarter rose by 17 per cent yoy to Rs. 334 crore in Q1FY19 vs Rs. 284 crore in the previous year's corresponding quarter.
The EBITDA for the quarter rose by 83 per cent to Rs. 50 crore in Q1FY19 vs Rs. 27 crore in the previous year's corresponding quarter. Further, the EBITDA for the quarter declined by 49 per cent sequentially. The EBITDA margin for the quarter rose by 540 bps.
The net profit for the quarter declined by 12.2 per cent to Rs. 10 crore vs Rs. 12 crore in the previous year's corresponding quarter. This was largely due to higher finance costs in the quarter to Rs. 11 crore in Q1FY19 vs Rs. 1.9 crore in the previous year.
The stock closed down flat at Rs.167 mark.