EIH Ld - 3rd Quarter Results

EIH

07/02/2017 13:04

RNS Number : 2512W

EIH Ld

07 February 2017

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS WHICH ENDED ON 31ST DECEMBER, 2016
(Rs.in Crores)
3 months
3 months
3 months
9 months
9 months
ended
ended
ended
ended
ended
31.12.2016
30.09.2016
31.12.2015
31.12.2016
31.12.2015
UNAUDITED
UNAUDITED
UNAUDITED
UNAUDITED
UNAUDITED
Income from Operations
a) Net Sales / Income from Operations
361.51
272.56
398.47
907.91
996.49
b) Other Operating Income
13.87
1.63
2.55
18.03
7.45
Total Income from Operations
375.38
274.19
401.02
925.94
1003.94
Expenses
a) Consumption of Provisions, Stores, Wines & Others
51.19
46.00
55.22
141.30
146.89
b) Employee benefits expense
87.93
93.82
101.11
266.48
290.64
c) Depreciation and Amortisation expense
27.87
28.05
29.67
83.77
86.06
d) Other Expenses
129.42
119.04
139.51
365.36
387.56
Total Expenses
296.41
286.91
325.51
856.91
911.15
Profit / (Loss) from Operations before Other Income, Finance Costs and Exceptional Items
78.97
(12.72)
75.51
69.03
92.79
Other Income
7.50
24.24
7.02
34.46
25.60
Profit / (Loss) from ordinary activities before Finance Costs and Exceptional Items
86.47
11.52
82.53
103.49
118.39
Finance Costs
3.25
2.65
6.48
12.08
17.89
Profit / (Loss) from ordinary activities after Finance Costs but before Exceptional Items
83.22
8.87
76.05
91.41
100.50
Exceptional Items - Profit / (Loss)
(2.57)
(15.25)
-
(36.17)
10.99
Profit / (Loss) from ordinary activities before Tax
80.65
(6.38)
76.05
55.24
111.49
Tax Expense
a) Current Tax
26.59
(4.08)
25.22
22.51
29.74
b) Deferred Tax
(0.25)
(6.09)
0.68
(13.13)
1.21
Net Profit / (Loss) for the period
54.31
3.79
50.15
45.86
80.54
Other comprehensive income (Net of Tax)
(2.88)
(5.04)
(0.85)
(8.64)
(2.54)
Total comprehensive income for the period
51.43
(1.25)
49.30
37.22
78.00
Paid-up Equity Share Capital (Face Value - ` 2 each)
114.31
114.31
114.31
114.31
114.31
Earnings per Equity Share (Face Value - ` 2 each) - `
(a) Basic
0.95
0.07
0.88
0.80
1.41
(b) Diluted
0.95
0.07
0.88
0.80
1.41
Notes :
1
The Company has adopted Indian Accounting Standards (Ind AS) from 1st April, 2016, the date of transition being 1st April, 2015. Accordingly, these financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013.
2
The statement does not include results for the previous year ended March 31, 2016 and the same is not mandatory as per the circular issued by SEBI on July 5, 2016.
3
The reconciliation of net profit or loss reported in accordance with Indian GAAP to total comprehensive income in accordance with Ind AS is given below:
(` in Crores)
Particulars
3 months ended 31.12.2015
9 months ended 31.12.2015
Net Profit / (Loss) as per Previous GAAP (Indian GAAP)
47.36
78.08
Add / (Less) : Adjustment on account of :
Deferral of revenue relating to Loyalty Programs as per Ind AS 18
2.44
(0.93)
Fair Valuation of Financial Assets and Liabilities as per Ind AS 109
0.27
(0.02)
Actuarial loss on employee defined benefit plan recognised in 'Other Comprehensive Income' as per Ind AS 19
0.85
2.54
Reclassification of Leases as per Ind AS 17
0.19
0.66
Deferred Tax as per Ind AS 12
(0.96)
0.21
Net Profit / (Loss) as per Ind AS
50.15
80.54
Other comprehensive income
(0.85)
(2.54)
Total comprehensive income for the period
49.30
78.00
4
The Oberoi, New Delhi was closed on 1st April, 2016 for major renovations. The hotel is expected to be ready for commercial operations by 1st April, 2018.
5
Exceptional Item for the 9 months ended 31st December, 2015 represents profit on sale of property at Darjeeling, West Bengal. Exceptional Items for all the other periods represent write-off of assets arising out of renovation of The Oberoi, New Delhi.
6
The Company has no reportable segments other than hotels as per Indian Accounting Standard.
7
Earnings Per Share are not annualised.
8
Figures have been regrouped or rearranged, wherever necessary.
9
The above Unaudited Financial Results were reviewed by the Audit Committee and approved by the Board of Directors at its Meeting held on 23rd January, 2017. The Statutory Auditors have carried out a limited review of the above Financial Results.
Bengaluru
VIKRAM OBEROI
23rd January, 2017
Managing Director and Chief Executive Officer


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