EIH Ltd, that runs The Oberoi Group of hotels, has reported a consolidated net profit of Rs 66.31 crore for the year ended March 31, 2010 against Rs169.95 crore in the previous year, a drop of 61%.
Consolidated total income of the company stood at Rs 1,038.30 crore in FY'10 against Rs 1,199.21 crore in the same period last year. PRS Oberoi, chairman, EIH Ltd, said, “The financial year 2009-2010 was yet another difficult year for the hospitality industry.
The economic environment continued to be clouded by the global financial crisis.
The developed economies were seriously affected. Consequently, there was a decline in the number of foreign visitors to India. This was further aggravated by the H1N1 pandemic during the first half of the financial year.”
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