Oberoi Hotels reports a dip in 2009-10 after-tax profit

The Oberoi Hotels has reported an after-tax profit of Rs57.23 crore during the financial year ended 31 March 2010 against the level of Rs170.44 crore in the previous year.

Total revenue for the year ended 31 March 2010 stood at Rs907.27 crore against Rs1,078.47 crore in the previous year, despite the difficult financial landscape of 2009-2010, the company said. 

Profit before tax stood at Rs88.99 crore against Rs273.26 crore in the previous year.

The company, however, managed to maintain the dividend at the previous year's level of Rs1.20 per share.

The operating results of the first quarter in the current financial year (31 March 2010 to 1 April 2011) are better than that of the first quarter in the previous financial year, without considering the estimated income from insurance claims accounted for in the previous financial year, P.R.S. Oberoi, Chairman told the 16th annual general meeting of EIH Limited (flagship of the Oberoi Group) said today. 

Total income for the first quarter of 2010-11 increased 23.3 per cent to Rs205.16 crore from Rs166.39 crore in the previous-year quarter.