Soaltee hotel reported 37 percent more profit

Kathmandu, April 30 – Soaltee Hotel Limited, a leading five-star hotel group of the country, has reported health profit rise of 37 percent in the third quarter of the current fiscal year 2070/71.

According to the unedited second quarterly report publisehd on today, Soaltee has earned a profit of Rs 18.26 crore in the third quarter after calculating the taxes, up from Rs 13.32 crore in the corresponding quarter of the last fiscal year.

The profit was mainly propelled by income from operations which surged to Rs 1.02 arba, up from Rs 88.61 crore in the corresponding quarter.

Soaltee’s EPS has risen to Rs 6.07 and its net worth per share now stands at Rs 32.19.

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

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

 

Source: Sharesansar