EIH Ltd announces record financial results for Q4 and FY23
During the year, the company also forayed into additional business segments including management of the ‘Bay Club’
Indian hospitality company EIH Limited has reported its consolidated financials for the fourth quarter and full year ending March 31st, 2023.
KEY CONSOLIDATED FINANCIAL RESULTS FOR PERIOD ENDED 31st MARCH, 2023
Revenue | EBITDA | EBITDA% | PAT | |
Q4 FY 2022-23 | ₹ 664 Cr ↑ 110% | ₹ 231 Cr ↑ 561% | 34.8% ↑ 23.8pp | ₹ 92 Cr ↑481% |
FY 2022 - 23 | ₹ 2,096 Cr ↑ 101% | ₹ 675 Cr ↑ 1076% | 32.2% ↑26.7pp | ₹ 329 Cr ↑446% |
Note: Revenue, EBITDA and PAT growth is against Q4 and Financial Year 2021-22
Commenting on the FY23 performance, Vikram Oberoi, Managing Director & CEO, EIH Limited, said, “FY23 has been a record year for EIH Limited, reporting the highest-ever full year consolidated revenue, EBITDA and PAT. Hotels managed by EIH Limited achieved an industry leading RevPAR index of 127% for the FY23, on the back of an ARR index of 120%. We would like to acknowledge the significant contribution of our Chairman Emeritus PRS Oberoi in creating a very strong foundation for the company and building some of the world’s finest hotels on the base of which these results have been achieved.”
Arjun Oberoi, Executive Chairman, EIH Limited, added, "Our exceptional performance is a testament to our unwavering commitment to quality, our premium positioning, and our meticulous attention to detail. We're not just about iconic hotels; we're about creating unforgettable experiences."
During the year, the company also forayed into additional business segments including management of the ‘Bay Club’, a world class members club, and shortly launching our first standalone high-end lifestyle restaurant ‘Amadeo by Oberoi’ in Mumbai. EIH will continue to expand on these and other business opportunities, offering discerning guests the best experience in hospitality. Our flight and airport catering business has rebounded strongly and continues to build on its reputation and profitability by providing quality services to leading international and domestic airlines.”
In conclusion, Vikram Oberoi stated, “FY23's extraordinary performance is a tribute to the passion and unwavering commitment of the EIH team who place the needs and wellbeing of our guests above all else. Our focus remains steadfast on creating value for our stakeholders through profitable operations and strategic expansion.”
