Soaltee posts 32% profit rise in Q4 despite growth stunted by upgradation work

ShareSansar, August 8:

Soaltee Hotel Limited, a leading five-star hotel group of the country, has reported health profit rise of 32 percent in the last fiscal year 2070/71.

Publishing the unaudited fourth quarterly report today, Soaltee has stated that it earned a profit Rs 22.18 crore by the quarter end after calculating the taxes, up from Rs 16.86 crore in the corresponding quarter of the previous fiscal year 2069/70.

The profit was mainly propelled by income from operations which surged to Rs 1.34 arba, up from Rs 1.20 arba in the corresponding quarter.

Soaltee’s EPS has risen to Rs 7.37, P/E ratio now stands at 78.80 times and its net worth per share stands at Rs 33.49.

The company has said that though it has been posting satisfactory growth by the end of the fourth quarter of the last fiscal year, the growth has be stunted due to availability of lesser rooms to the guests owing to upgrading of the rooms under the Himalaya Wing of the hotel from the fourth quarter.

It may be noted here other leading hotel groups have also been reported growth in the last fiscal year owing to political stability and economic growth.