Shares of EIH Ltd surged to an all-time high, hitting the upper circuit of 20 per cent at Rs 426.15 apiece on the BSE in early trade on Wednesday, marking the fourth consecutive session of gains. The stock of the flagship company of the Oberoi Group witnessed this uptrend following its strong performance in the third quarter of the fiscal year 2023-24.
In the third quarter ended December, the company reported a consolidated profit after tax (PAT) of Rs 229.94 crore, marking a significant increase of 54.6 per cent from the year-ago period. The company's total income also saw a robust growth of 27.6 per cent, reaching Rs 769.87 crore from Rs 603.22 crore in the corresponding quarter of the previous financial year.
Despite an increase in total expenses to Rs 456.01 crore during the quarter under review, compared to Rs 415.99 crore a year ago, EIH Ltd recorded a substantial rise in revenue, climbing by 26.4 per cent to Rs 741 crore. The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 324 crore, showing a remarkable 55 per cent increase from Rs 209 crore year-on-year (YoY). Furthermore, the margin improved to 43.7 per cent from 35.6 per cent in the previous year, reflecting the company's strong operational performance.
As of 12:16 pm, shares of EIH were trading at Rs 410.50, 15.58 per cent higher than the previous close of Rs 355.15 on the BSE.
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