Royal Orchid Hotels Limited (ROHL), the Bangalore-based hotel chain, has, on a consolidated basis, reported 8.6 per cent rise in its net profit at Rs 6.76 crore for the first quarter-ended June 30, 2008 compared to the corresponding quarter last year.
The company witnessed hectic infrastructure development and investment which resulted in a drop in its interest income during the quarter.
ROHL has deployed the entire Rs 112.53 crore of IPO proceeds raised last year for the expansion of its hotel business.
The total income for the quarter went up by 35 per cent to Rs 39.21 crore compared to the same period last year.
Consolidated EPS on basic and a diluted basis for the quarter stands at Rs 2.48 compared to Rs 2.28 for the corresponding quarter last financial year.