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"The company has access to borrowing facilities worth Rs 530 crore, of which Rs 480 crore remained unutilised as on 30th June, 2022," EIH stated.EIH stated that the consequences of the Covid-19 outbreak on the company’s and its subsidiaries’ business for the year ended 31st March, 2022 and 31st March, 2021 had been severe.

The company attributed this to the change in the effective tax rate for Q1FY23 on account of a drop in SEZ profits exemption u/s 10AA to 50% from FY23 for 5 years. The company said it is evaluating switching over to composite rate without availing any exemptions.

RBI has hiked the rate by a cumulative 0.90 per cent in two tightening moves in May and June, responding to the runaway headline inflation which has consistently overshot the upper end of the target set for the central bank for many months.Referring to policy actions since April, when RBI introduced the standing deposit facility

“The worst should be behind us on the operational front and for JLR business, it is very important for certain geographies where they cater to how the situations are turning out over there. Unfortunately, in the UK, we are facing a lot of problems. China has multiple problems and elsewhere in Europe also, there are issues to deal with. On the domestic front, the JLR business has done quite well.”

Net interest margin for the quarter rose 155 basis points to 9.5% against what it was a year back. Assets under management grew 22.4% year-on-year to Rs 17,660 crore.

The Nifty Realty index was trading 1.19 per cent up at 438.25.

The firm reported a consolidated net profit of Rs 22.83 crore in the recently concluded quarter as against a net loss of Rs 104.89 crore in the corresponding period last fiscal.Total revenue from operations increased up to four-folds to Rs 948.44 crore for the quarter ended June 2022 as against Rs 205.23 crore in June 2021. Its e-commerce sales grow by 29 per cent on a year-on-year (YoY) basis

“If you look at the total PCPL portfolio, I think we have got a significant opportunity to restructure and clean up. As part of this, the latest thing that we have announced is the cleanup of the international and Indian legal listed entities. From 43 entities, we are moving down to 23 or 25.”

The bonus issue is subject to approval from shareholders of the company at the 38th annual general meeting (AGM), which is slated to be held on August 26, 2022. On July 22, the company had informed the bourses that its board would meet on Wednesday to consider the issue of bonus shares and the proposal was duly approved by the company board.

The 30-share pack Sensex advanced 548 points or nearly 1 per cent to close at 55,816. Its broader peer, Nifty50, added 158 points to close above the 16,600 mark.