Profit of Oriental Hotel plunges by 79.8% in the FY 2076/77; Travel Restrictions because of the Covid-19 Pandemic Brings EPS down at Rs. 5.52
Sun, Aug 16, 2020 4:42 PM on Latest, Company Analysis,
Oriental Hotel Limited (OHL) has reported a fall in its net profit by 79.8% in the fiscal year 2076/77 compared to the fiscal year before it. The decrease in net profit is primarily due to the impact of COVID-19 outbreak and lockdown imposed by the government. Amongst all these problems, the hotel and tourism industry was the most affected.
Publishing the unaudited report for the fourth quarter today, the company that runs Hotel Radisson has stated that its net profit after tax has fallen to Rs 6.22 crores in the fourth quarter compared to a net profit of Rs 30.85 crores in the corresponding quarter of the last fiscal year 2075/76.
Oriental Hotels has a share capital of Rs 1.12 Arba and reserve/surplus of Rs 1.07 Arba till Q4 of the FY 2076/77.
OHL succeeded to collect a total of only Rs 69.04 crore as revenue from operations which was Rs 1.23 Arba in the corresponding quarter of the last FY.
Its earnings per share (EPS) stands at Rs 5.52, net worth per share is at Rs 195.71, and quarter-end P/E ratio at 55.42 times.
