EIH Q1 net loss at Rs 15.93 cr

EIH Q1 net loss at Rs 15.93 cr

The company had posted a net profit of Rs 19.05 crore in the year-ago period.

During the first quarter of this fiscal, the company's total income decreased by 6.3 per cent to Rs 20.5 crore from Rs 21.9 crore in the same period last year.

The company said that the Oberoi Hotel in Mumbai had commenced operations on April 24, 2010. The hotel had remained closed due to damage caused by a terrorist attack in 2008.

"The company is adequately insured on a replacement value basis against damage caused by terrorism on The Oberoi, Mumbai, and Trident, Nariman Point. Since settlement of claims for the damage is pending, no effect has been given in the books in respect of damage to the properties," EIH said in a filing to the Bombay Stock Exchange.

Luxury hotels Taj Mahal Palace, Oberoi and Trident were targeted by terrorists in Mumbai on November 26, 2008. Over 200 people were killed, and the hotels badly damaged in co-ordinated attacks carried out across the city.