Shares of EIH were trading 5% above and reached an intra-day high of Rs 234.90 on 6 November after the company announced its quarterly earnings for July-September.

The company reported a stellar performance on all fronts; its consolidated net profit increased by four-fold to Rs 94 crore during the quarter under review from Rs 22.35 crore reported in the year-ago quarter.

The consolidated revenue of the company was Rs 552.5 crore, which is a 32.5% year-on-year increase from Rs 164.9 crore reported in the same quarter during the previous fiscal year.

The company’s EBITDA (earnings before interest, tax, depreciation, and amortisation) saw a 64% YoY increase to Rs 164 crore during the quarter.

Vikram Oberoi, CEO and MD at EIH, said, “We are pleased with the outstanding financial results achieved in the second quarter of FY24. The substantial increase in revenue and profitability is a testament to the hard work of our team and the ongoing trust of our loyal guests.”

Arjun Oberoi, Executive Chairman of EIH Ltd, said, “Our company has achieved exceptional financial results in the second quarter of FY24. We’ve seen significant growth in both revenue and profitability. We remain committed to providing outstanding hospitality and expanding our presence in key markets.”

The shares of the company have gained more than 31% on a year-to-date basis against the 6% rise in the benchmark Sensex.

At 3:30 pm, the shares of EIH closed 4.90% higher at Rs 233.50 on NSE.