EIH Q1 net up nearly 12% at Rs 10.55 cr

Hospitality major EIH Ltd that runs hotels and resorts under Oberoi and Trident brands today reported a 11.64 percent rise in net profit to Rs 10.55 crore for the quarter ended June 30, 2013 on the back of improved sales.

The company had posted a net profit of Rs 9.45 crore for the corresponding period previous fiscal, EIH said in a filing to BSE.

Total income of the company stood at Rs 271.16 crore for the quarter under consideration as against Rs 246.03 crore for the same period year ago, it added.

"The results for the first quarter are not indicative of a full year's working due to the seasonal nature of the Indian hotel industry," EIH said.

EIH under the aegis of Oberoi Group operates hotels and cruisers in five countries. The Group is also engaged in flight catering, airport restaurants, travel and tour services, car rentals, project management and corporate air charters.

Shares of EIH Ltd today closed at Rs 45.35 per scrip on BSE, up 1.57 percent from its previous close.