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ICICI Direct Report
EIH Ltd. reported a weak set of Q1 FY21 numbers as business remained almost shut on account of lockdown.
Revenues for the quarter fell approximately 90.2% YoY to Rs 28.5 crore. The business was restricted to stranded guests and accommodation requirements of guest rendering essential services during the quarter.
The company managed to curtail operating expenditure by over 57% YoY to Rs 154 crore. The major reduction was in other expenses that were down 51% YoY to Rs 61 crore.
This helped restrict Ebitda losses to Rs 125 crore for the quarter. After adjusting for tax expenses, net loss came in at Rs 118.2 crore for the quarter.
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