EIH reported a mixed set of numbers. After four consecutive quarters of decline in revenues (mainly led by closure of The Oberoi, New Delhi for renovation), this is the first quarter where the company has reported revenue growth of low single digit. However, the same was below our estimate while net profit was above our expectation, mainly led by higher other income (up 259.4% YoY) Revenues increased 3.9% YoY to | 284.5 crore (below I-direct estimate of | 293.9 crore). The EBITDA margin declined 45 bps to...