Increase is expenses forced Oriental Hotel's Income decline by 4%

ShareSansar, November 9:

Oriental Hotels Limited has reported a net profit decline of 4 percent in the first quarter of the current fiscal year 2071/72.

According to the unaudited financial report for the first quarter published by the operator of Hotel Radisson, it earned a net profit of Rs 2.01 crore, up from Rs 2.09 crore in the corresponding quarter of the last fiscal year 2070/71.

Despite the increase in the revenue income this quarter, the hotel profit declined mainly due to increased expenses on payments & provisions for employees and operating & Administrative expenses headings.

Its EPS stands at Rs 4.05 and its net worth per share is Rs.114.22