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EIH net plummets 25 per cent to Rs 72 cr
Sanjay Sardana
New Delhi, May 29: EIH Ltd has reported a 25 per cent drop in its net profit to Rs 72.47 crore for the year ended March 2000, down from the last year's figure of Rs 96.41 crore. On a constant equity of Rs 52.39 crore, earning per share (EPS) has dropped to Rs 12.9 from Rs 18.4 reported last year.Revenues during the year were down marginally to Rs 421.09 crore against Rs 440.51 crore reported last year. The year saw the company's foreign exchange earnings drop to Rs 275 crore against Rs 315 crore last year.Despite the fall in the net profit, the company has maintained the last year's dividend of 50 per cent (Rs 5 per share). An amount of Rs 4.42 crore was paid as pro-rata dividend on 9.6 per cent cumulative redeemable preference shares of Rs 100 crore issued during the year."The growth of the hospitality sector relies on economic activity within the country and international tourism. Since 1995, there has been a negative growth in general economic activity, which has affected the business travel as well," said the company's CMD PRS Oberoi. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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