Hospitality major EIH, which runs hotels and resorts under Oberoi and Trident brands, today reported a decline of 58.98 per cent in standalone net profit at Rs 3.79 crore for the second quarter to September 2016.
The company had posted a net profit of Rs 9.24 crore in July-September a year-ago, EIH said in a BSE filing.
Its net sales were down 8.87 per cent at Rs 272.56 crore during the quarter under review as against Rs 299.10 crore in the same quarter of the previous fiscal.
Its total expenses stood at Rs 286.91 crore during the said quarter as against Rs 295.59 crore in the corresponding quarter of 2015-16, down 2.93 per cent.
The stock of EIH today settled at Rs 107.85 on BSE, down 0.83 per cent, from its previous close.
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