Hospitality firm, Royal Orchid Hotels today said it has posted 46 per cent growth in consolidated net profit at Rs 4.38 crore for the quarter ended December 31, 2010.
For the same period last year, the company's net profit was Rs 3 crore, the firm said in a statement.
For the three-month period under review, the firm's consolidated sales grew 31 per cent at Rs 41.48 crore, compared to Rs 31.65 crore in the same quarter last year.
The consolidated financial statements include results of all the subsidiaries of Royal Orchid Hotels Ltd, the statement said.
"The business across all our hotels have shown improvement in the last quarter and we hope that this trend will continue with positive signs of business improving across most of the industries," Royal Orchid Hotels, Chairman and Managing Director Chender Baljee said.
The company will start the operations of the two properties Shimoga and Mussoorie under management contract during the current quarter.
"With eight new properties on the anvil this calendar year, the group is looking forward to a promising performance in the next financial year," the statement said.
The two owned properties Royal Orchid Hotel, Hyderabad and Royal Orchid Hotel, Jaipur will be ready for operations during this calendar year.
The company currently operates 15 hotels across India in Bangalore, Mysore, Hospet, Mumbai, Pune, Jaipur, Goa, Ahmedabad and Mussoorie.
It will also open its first international resort at Dar Es Salaam, Tanzania in 2012.
