News Source: www.financialexpress.com
EIH appoints Vikramjit Singh Oberoi as MD & CEO for 5 years
News Source/Courtesy: www.financialexpress.com

Courtesy/News Source: financialexpress.com

Hospitality major EIH, which runs hotels and resorts under Oberoi and Trident brands, on Thursday announced reappointment of Vikramjit Singh Oberoi as its managing director & CEO for a term of five years.

The board of director of the company at its meeting also reappointed Arjun Singh Oberoi, Vikramjit’s cousin, as managing director — Development for a term of five years, effective from July 1.

Notably, charting out a succession plan by approving a management restructuring four years ago, the board had appointed Vikramjit, son of chairman PRS Oberoi, as its MD & CEO with effect from April 1, 2015. At the same time, Arjun had been appointed as managing director — Development. Prior to that, both had been joint managing directors of the hospitality major.

Meanwhile, the company reported a 77.25% fall in its standalone net profit to Rs 12.77 crore for the quarter ended March 31, 2019 due to an exceptional item. It had posted a net profit of `56.13 crore for the same period of the previous fiscal, according to a BSE filing. Its revenue from operations in the March quarter of FY19 stood at `430.89 crore against `431.38 crore for the corresponding period of FY18.

“Exceptional item for the three months ended March 31, 2019, represent a one-off provision of Rs 84.75 crore against receivable from a single customer in the flight catering business, due to uncertainty in business continuity of the afore-referred customer,” the company informed in the stock exchange filing.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Fill the numbers here
If not readable, please refresh.
Refresh

News Source: www.financialexpress.com

You Might Also Like

Fill the numbers here
If not readable, please refresh.
Refresh

-: Disclaimer :-


This article has been aggregated from www.financialexpress.com and they maybe/are the copyright owners of the same. If you are the Author/Copyright owner of this article and want us to remove the same then send an email to admin@hoteliers.news so that we can delete it immediately. We sincerely regret and apologies for any inconvenience caused to you due to the same. Though it is your decision but please take note that the link to your website and the article have been given above, within and on the bottom of the article.

Hoteliers In Limelight

Voting Poll