EIH has got hit by general slowdown and high Goods and Services Tax (GST) during Q1FY20. The company, which comes under The Oberoi Group, has Rs 84.5 crore dues from the grounded Jet Airways.
In the Q1FY20, the company posted consolidated revenue of Rs 358.22 crore as compared to Rs 400.35 crore registered in the same quarter last year.
The drop in revenue and profitability in the first quarter of the current year is attributable to a general slowdown in business activity, decline in air travel and a reduction in the airline catering business.
EIH is engaged in the business of operating and managing luxury hotels, restaurants, management contracts and travel and tours.