ICICI Direct: EIH Revitalising To Help It Flourish In Future
The Oberoi hotel stands at a near empty Marine Drive during a lockdown imposed due to the coronavirus in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

ICICI Direct: EIH Revitalising To Help It Flourish In Future

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

EIH Ltd.’s Q2 FY21 operational performance was below our estimates as premium segment hotel remained worst affected due to international travel ban along with weak business segment demand due to pandemic.

Revenues for the quarter fell approximately 79% YoY to Rs 60.4 crore (versus our estimate of Rs 69.9 crore).

The company managed to curtail operating expenditure by over 42% YoY to Rs 155.6 crore.

The major reduction was in other expenses that were down 46% YoY to Rs 69 crore.

Click on the attachment to read the full report:

ICICI Direct EIH Q2FY21 Result Update.pdf

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