EIH Q4 Review - Firm Balance Sheet To Help Weather Medium-Term Challenges: ICICI Direct
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ICICI Direct Report
EIH Ltd.’s operational performance in Q4 FY21 was impacted by impairments and rise in other costs despite improvement in revenues.
This led the company to report a net loss of Rs 68.1 crore versus loss of Rs 41.5 crore in Q3 FY21.
Pickup in leisure segment in January-February led to 20.5% QoQ growth in revenue to Rs 187.9 crore (versus our estimate of Rs 149 crore).
However, it was down 46.5% YoY as foreign tourist arrivals continued to be affected by Covid-19 induced restricted travel.
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