EIH Associated Hotels Sees 50.6% Dip in Q1 Profit

EIH Associated Hotels Ltd reported a 50.6% decline in profit after tax for the first quarter ended June 30. The profit dropped to Rs 3.58 crore, down from Rs 7.25 crore the previous year, due to lower revenue and higher expenses.

EIH Associated Hotels Ltd announced a significant 50.6% drop in profit after tax to Rs 3.58 crore for Q1, ending June 30. The downturn is attributed to reduced revenue and increased expenses, according to a regulatory filing on Monday.

In comparison, the company had recorded a Rs 7.25 crore profit after tax during the same quarter last year. This revenue drop, from Rs 66.86 crore to Rs 64.48 crore, underscores the financial challenges faced over the period.

The total expenses for the quarter increased to Rs 64.15 crore, up from Rs 60.54 crore in the previous year, further contributing to the profit decline.

(With inputs from agencies.)