Oberoi Hotels parent EIH Ltd has reported a consolidated profit of INR 248 crore in January-March 2024, up 169 per cent from same quarter in previous fiscal. The hospitality major’s profit for FY 2024 rose 106 per cent to INR 678 crore. Like most OTAs, airlines and hotel companies, it has seen one of its best financial performances last fiscal thanks to the post Covid surge in travel.
EIH Ltd executive chairman Arjun Oberoi said: “In the fourth quarter and full fiscal year, 2023-2024, our company achieved exceptional financial results, with a significant increase in revenue and profits. This success reflects our team’s dedication and commitment to providing our guests with a world class hospitality experience. I am also happy to share, that these results have been achieved with an increased focus on environmental, social and governance (ESG) principles, reinforcing our commitment to sustainable business practices.”
On a day when the airline released its fourth quarter and fiscal year 2024 results, this new announcement is evident to its plan to expand its horizon and offerings after placing record aircraft order last year and the recent announcement of inducting widebody aircraft is also a testament to that. The new product will be available on the busiest and business routes of the nation and will be operational before the end of this year.
EIH Ltd CEO & MD Vikram Oberoi said: “Our company’s excellent financial performance in Q4 and full fiscal year, 2023-2024 underscores the premium and value our guests place on our unwavering commitment to personalised service. We are deeply grateful to our guests for their trust and to our teams for their dedication. Our strong financial position empowers us to pursue continued growth, benefiting all our stakeholders.”EIH Ltd owns and operates a portfolio of hotels and resorts under the “Oberoi” and “Trident” brands in India and abroad.
