EIH cites general slowdown, drop in airline catering for dismal Q1 show

The firm, which owns the Oberoi chain of hotels, posted a pre-tax loss of Rs 11 crore compared to Rs 16 crore profit a year ago

EIH, which owns the Oberoi chain of hotels, has attributed its drop in revenue and profit in the first quarter of the current year to a general slowing of business activity, decline in air travel and reduction in the airline catering business.

The quarter resulted in a loss before tax of Rs 11.25 crore, compared to a profit of Rs 16 crore in the same period a year before. Loss after tax was Rs 7 crore, as against a profit in the comparative period of Rs 10.2 crore. Operating earnings were Rs 34.9 crore, down from Rs 56.8 crore; total revenue