Soaltee Hotel Q2 profit increases 289% to Rs 10.33 crore; EPS at 39%

Soaltee Hotels Limited (SHL), a leading five-star hotel of the country, has posted massive profit rise by 289.83 percent in net profit in the second quarter of the ongoing fiscal year 2073/74. As per the unaudited report published for the second quarter today, the company has stated that its net profit after tax has increased to Rs 10.33 crore in the second quarter compared to just Rs 2.65 crore in the corresponding quarter of the last fiscal year 2072/73. As per the company, the rise in its profit can be attributed to the rising tourism industry in Nepal, and huge influx in Indian and Chinese tourists. Soaltee Hotel has a paid up capital of Rs 52.65 crore in the second quarter of the fiscal year 2073/74. Its reserves and retained earning has slightly increased to Rs 78.21 crore in Q2 compared to Rs 77.01 crore in the same period corresponding quarter. Its total income from operations has risen from Rs 7.39 crore in the corresponding quarter to Rs 19.74 crore in this quarter. Its annualized Earnings per Share (EPS) stands at Rs 3.92 (39.2%), net worth per share at Rs 24.85 and P/E ratio at 80.1 times.