EIH Limited, the flagship company of the Oberoi Group, which is among India's largest luxury hotel chains, has announced its consolidated financial results for the fourth quarter and full year ending on March 31, 2023. Here are the key consolidated financial results for the period ending March 31, 2023:
Quarter 4 FY 2022-23:
- Revenue: ?664 Cr (110% increase)
- EBITDA: ?231 Cr (561% increase)
- EBITDA%: 34.8% (23.8pp increase)
- PAT: ?92 Cr (481% increase)
Full Year FY 2022-23:
- Revenue: ?2,096 Cr (101% increase)
- EBITDA: ?675 Cr (1076% increase)
- EBITDA%: 32.2% (26.7pp increase)
- PAT: ?329 Cr (446% increase)
Please note that the revenue, EBITDA, and PAT growth are in comparison to Q4 and the financial year 2021-22.
Vikram Oberoi, Managing Director & CEO of EIH Limited, commented on the performance of FY23, stating, "FY23 has been a record year for EIH Limited, with the highest ever full-year consolidated revenue, EBITDA, and PAT. Hotels managed by EIH Limited achieved an industry-leading RevPAR index of 127% for FY23, supported by an ARR index of 120%. We recognize the significant contribution of our Chairman Emeritus, PRS Oberoi, in establishing a solid foundation for the company and developing some of the world's finest hotels that have led to these results."
Arjun Oberoi, Executive Chairman of EIH Limited, added, "Our exceptional performance reflects our unwavering commitment to quality, our premium positioning, and our meticulous attention to detail. We are not just about iconic hotels; we aim to create unforgettable experiences. During the year, the company expanded into additional business segments, including managing the 'Bay Club,' a world-class members club, and soon launching our first standalone high-end lifestyle restaurant, 'Amadeo by Oberoi,' in Mumbai. EIH will continue to capitalize on these and other business opportunities, providing discerning guests with the best hospitality experience. Our flight and airport catering business has shown strong recovery and continues to enhance its reputation and profitability by delivering quality services to leading international and domestic airlines."
In conclusion, Vikram Oberoi emphasized, "The extraordinary performance in FY23 is a tribute to the passion and unwavering commitment of the EIH team, who prioritize the needs and well-being of our guests above all else. Our focus remains dedicated to creating value for our stakeholders through profitable operations and strategic expansion."