Royal Orchid Hotels today posted 35.98% decline in its consolidated net profit for the first quarter ended June 30, 2011 at Rs 1.53 crore.
In the same quarter last fiscal, the company's net profit stood at Rs 2.39 crore, it said in a filing to the Bombay Stock Exchange (BSE).
The company's net sales for the three months ended June 30, 2011 increased 4.36% at Rs 21.50 crore, compared to Rs 20.60 in the first quarter of last fiscal.
Royal Orchid Hotels' scrips closed at Rs 66, down 1.57% from the previous close on the BSE.