Soaltee Hotel posts 4.24% profit decline in Q1; Expense increases by 12.64%

ShareSansar, November 14:

Soaltee Hotel Limited (SHL), a leading five-star hotel group of the country, has reported decline of 4.24 percent profit in the first quarter of the current fiscal year 2071/72.

Publishing the unaudited first quarterly report today, Soaltee has stated that it earned a profit Rs 2.61 crore in the first quarter after deducting the taxes, down from Rs 27.31 crore in the corresponding quarter of the last fiscal year.

The decline in profit is mainly due to the increases in expenditure in food & beverages, salaries & employee’s benefit and administrative expenses. The expenses rises by 12.64 percent this quarter compared to previous quarter of last fiscal year.

Soaltee’s annualized EPS is Rs 3.47 and its net worth per share now stands at Rs 35.10.