ENL Group’s revenues surge by 21% to hit Rs12.6 Bn in nine months

The ENL group has reportedly demonstrated a robust performance during the nine-month period ending on 31st March 2023.

The group’s revenues have surged by 21%, reaching Rs 15.3 billion compared to Rs 12.6 billion during the same period of 2022.

According to Group CEO Hector Espitalier-Noël, this remarkable growth has been primarily driven by the strong recovery of the local tourism sector.

ENL’s profits have multiplied by 2.6, standing at Rs 1.6 billion as opposed to Rs 608 million in the previous year.

“I am pleased with the results achieved over the past nine months. Our robust growth across all business sectors demonstrates the resilience and adaptability of our group. Despite the challenges posed by inflation and interest rates, we were able to seize the opportunities offered by the recovery of local tourism and maintain a remarkable performance in our hotel cluster,” he was cited as saying by Defi Media.

The hotel cluster posted a profit of Rs1 billion compared to a loss of Rs9 million for the same period last year.

Source: Defi Media