EIH net at Rs 200.45 crore

Kolkata, Jun 15 (UNI) The East India Hotels Limited, a part of the of The Oberoi Group, reported a net profit of Rs 200.45 crore in 2006-07.

A company release said the company's revenue increased from Rs 803 crore to Rs 997 crore, an increase of 24 per cent.

The Operating Profit increased to Rs 397.92 crore as against Rs 292.33 crore in the previous year, an increase of nearly 37 per cent.

Profit Before Tax(PBT) and Extraordinary items of Rs 257.16 crore represents a 56 per cent increase over the previous year.

Profit After Tax without considering extraordinary uncome was Rs 170.46 crore as against Rs 107.98 crore, an increase of approximately 59 per cent.

A company release said here today that dividend for the year had been proposed at Rs 1.40 per equity share of Rs 2 on the increased capital of Rs 78.59 crore.

While presenting the financial result for 2006-07, EIH Limited Chairman P R S Oberoi said, '' The hospitality industry in India has now come of age. The emergence of international competition will compel Indian hotel groups to further improve their product and service offerings. This will benefit the Company which has established operating niches. '' The Oberoi Group operates in five countries, including India, Egypt, Mauritius, Indonesia and Saudi Arabia with 32 properties, including the luxury Oberoi Hotels&Resorts and the superior first class Trident Hilton Hotels.

The Group is also engaged in flight catering, airport restaurants, travel and tour service, car rentals, project management and corporate air charters.

UNI