Oriental Hotels report impressive 75.75% profit rise in Q2

ShareSansar, February 4:

Oriental Hotels Limited has reported a net profit rise of 75.75 percent in the second quarter of the current fiscal year 2070/71.

According to the unaudited financial report for the second quarter published by the operator of Hotel Radisson, it earned a net profit of Rs 9.35 crore, up from Rs 5.32 crore in the corresponding quarter of the last fiscal year 2069/70.

The profit was made out of income from the rooms, restaurants, banquets and other sources income, which surged to Rs 48.28 crore in the second quarter, up from Rs 38.93 crore in the second quarter of the last fiscal.

Oriental Hotels managed to pull off the profit despite provisioning Rs 1.20 crore for staff bonus and Rs Rs 3.13 crore depreciation amortization expenses.

Its EPS has risen to Rs 18.82 up from 10.71 and its net worth per share has also surged to Rs 83.06, up from Rs 54.34.