BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
EIH Ltd. reported a healthy performance in Q1 FY23. Revenue for the quarter surpassed pre-Covid levels (i.e. Q1 FY20) by 18%. On a YoY basis, revenues were up 332% (up 28.9% QoQ) to Rs 342.4 crore (higher than our estimates of Rs 317.1 crore).
Ebitda margin came in at 23.1%, higher than our estimate of 20.1%. It was also far higher than Ebitda margin of 7.4% during Q1 FY20 and 14.4% during Q1 FY19. Absolute Ebitda came in at Rs 79.2 crore versus our estimated Ebitda of Rs 63.7 crore.
EIH reported a net profit of Rs 42.4 crore versus net loss of Rs 93.1 crore last year and loss of Rs 7.3 crore last quarter.
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