Soaltee Hotel profit decline in Q2 mainly due to increased Operational Expenses

ShareSansar, February 6:

Soaltee Hotel Limited, a leading five-star hotel group of the country, has reported decline in net profit by 2.1 percent during the second quarter of the current fiscal year 2071/72.

Publishing the unaudited second quarterly report today, Soaltee has stated that it earned a profit Rs 11.68 crore by the quarter end after calculating the taxes, down from Rs 11.94 crore in the corresponding quarter of the previous fiscal year 2070/71.

The company has earned Rs 70.82 crore from Income from Operations and dividend from Investment headings whereas the company earned Rs 66.91 crore last year on same heading.

Its food and beverage, Salaries and Employees Expenses and Operative and Administrative Expenses rises to Rs 49.55 crore, up from Rs 44.62 crore during the previous year same quarter. This increased in expenses is the main reason  of decline in net profit.

Soaltee’s EPS is Rs 3.88, P/E ratio now stands at 122.31 times and its net worth per share stands at Rs 36.16.