EIH Ltd, which runs hospitality chains under Oberoi and Trident brands, on Thursday reported a 27.6% fall in net profit at Rs. 32.8 crore for third quarter ended December 31 due to higher overall expenses against Rs. 45.25 crore a year ago.
Net sales during the quarter under review stood at Rs. 318.4 crore as against Rs. 312.5 crore a year ago.
The company’s total expense during the third quarter this fiscal stood at Rs. 261.04 crore as compared to Rs. 239.94 crore a year ago.
In a separate filing, the firm said its board has also approved a management restructuring under which the overall management responsibility and authority has been handed over SS Mukherji, the incumbent VC. PRS Oberoi, who was earlier the chairman and CEO, will now be executive chairman.