New Delhi: Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands, on Saturday reported a 31.47 percent rise in its standalone net profit at Rs 47.91 crore for the quarter ended March 31, 2015.
The company had posted a net profit of Rs 36.44 crore in the corresponding period of the previous fiscal.
Standalone total income from operations of the company also rose to Rs 392.73 crore as against Rs 359.60 crore for the same period year ago, EIH said in a statement.
For the full fiscal 2014-15, the hospitality chain earned a standalone net profit of Rs 96.63 crore as against Rs 95.04 crore in the previous fiscal 2013-14.
Standalone total income of the company also rose to Rs 1,341.31 crore during 2014-15, from Rs 1,252.16 crore in previous fiscal.
Commenting on the results, EIH Ltd MD and Chief Executive Officer Vikram Oberoi said: "...EIH Ltd was able to increase market share in most locations and hence the strong profit growth led by the hotel division."
The company expects to grow it's Average Room Rates (ARRs) in all markets and in addition, occupancy leading to higher revenue per available room (REVPAR) in 2015-16, he added.
The Oberoi Group is also planning to open three hotels during the first six months of 2016.
The hotels being planned would be in United Arab Emirates, Marrakech in Morocco and on outskirts of Chandigarh in India.
In a filing to the BSE, EIH said its board has recommended a dividend of Rs 1.10 per share.
Founded in 1934, Oberoi Group operates 30 hotels, a Nile Cruiser and a Motor Vessel in the backwaters of Kerala. The Group has presence in six countries under the luxury 'Oberoi' and five-star 'Trident' brand.
The Group is also engaged in flight catering, airport restaurants, travel and tour services, car rentals, project management and corporate air charters.
