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EIH suffers Rs 17 cr loss

Calcutta, Oct. 31: EIH Ltd, the company that owns and manages the Oberoi chain of hotels, today reported a Rs 17 crore loss in the quarter ended September as against a loss of Rs 3.5 crore in the corresponding period last year, despite a 14.5 per cent growth in sales.

Senior company officials said the loss was due to the Rs 20 crore extra-ordinary expenditure on the voluntary retirement scheme (VRS).

EIH earned Rs 94 crore from sales during the quarter. Total earnings from sale during the first six months of the year was Rs 181.48 crore, 10.76 per cent higher than last year. Total loss during the first half was Rs 17.37 crore.

Berger Paints

Berger Paints unveiled a stellar performance in the quarter ended September. Its net profit in the quarter went up 54.2 per cent compared with last year, while sales grew 12.9 per cent. The company posted a net profit of Rs 14.14 crore during the quarter, as against Rs 9.17 crore last year. Net sales during the quarter at Rs 211.37 crore was a little over Rs 24 crore higher than last year.

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