Fuelled by new infrastructure, Oriental Hotels net profit rise by 69.9 % in Q3

ShareSansar, April 23:

Oriental Hotels Limited has reported a massive 69.92 percent rise in its net profit by the end of the third quarter of the current fiscal year 2070/71.

Publishing the unaudited report for the third quarter today, the company that runs Hotel Radisson has stated that its net profit has surged to Rs 15.05 crore in the third quarter, up from Rs 8.62 crore in the corresponding quarter of the last fiscal year 2069/70.

Its operational earning has risen to Rs 77.02 crore from just Rs 59.44 crore in the corresponding quarter of the last fiscal—a rise of 28.62 percent. Its expenditure stood at Rs 44.27 crore by the third quarter end, up from Rs 34.50 crore.

Oriental Hotels has been reporting good profit this fiscal year has stated that it was able to significantly increase its income (though its expenses has also risen) following the operation of its new buildings and high quality service it has been providing to its customers in the face of cut-throat competition in the market.

Through the added new rooms it has managed to secure 35.27 percent by the end of the third quarter, according to the company’s financial report.