1st Oct 2019 15:45
(Alliance News) - EIH PLC on Monday said decrease in value of investments led to 41% year-on-year drop in first half net asset value.
The Indian private equity fund of funds said value of its assets fell to USD9.4 million at June 30 from USD16.3 million as at December 31. As a result, the company's net asset value per share fell to 15.6 US cents from 26.3 cents.
Pretax loss for the first half narrowed year-on-year to USD428,000 from USD3.3 million mainly due to lower investment expenditure which totaled USD156,000 versus USD3.1 million.
The company said it continues to manage operating costs carefully and remains focused on realising assets and return proceeds to investors.
EIH shares in London were untraded at 14 US cents each on Tuesday afternoon.
By Tapan Panchal; [email protected]
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