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
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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