EIH reported 76% YoY growth in revenues to Rs355.7 crore (up 3.9% QoQ) led by improved traction in the business travel along with benefit of low base effect. Margin for the quarter came in at 21.9% which is far higher than EBITDA margin of 5.7%, 11% during Q2FY20, Q2FY19, respectively. However, PAT growth remained lower mainly due to exceptional expenses
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The current operational performance reflect the continued strong traction in demand from business destinations like Mumbai, Delhi and Bengaluru. Also, with the re-opening doors for foreign tourists, we expect the performance of hotels at key gateway cities like Mumbai and Delhi to improve further, going forward
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