Royal Orchid Hotels Ltd Q2 Net Profit up by 84 pc
Mumbai, Oct 27: Royal Orchid Hotels Limited(ROHL) has posted results for second quarter ending September 30, 2006 with profits for half year increased by 84 per cent over the last year's first half.
According to a release, the consolidated results reflect a net profit after tax (PAT) of Rs 668.23 lakhs during the first half as against the first half of the previous year of Rs 364.20 lakhs.
Chender Baljee, Chairman and Managing Director of ROHL said, ''ROHL has been consistently maintaining healthy increase in profits year on end and we hope to gain momentum by the end of financial year (March 2007)''.
The consolidated financial statements include results of all the subsidiaries of Royal Orchid Hotels Limited. In the next one year, the ROHL group of hotels will increase its presence in Mysore with their second hotel Royal Orchid Brindavan Garden. This will be followed by new hotels opening in Jaipur and Hyderabad by end 2006, the release added.
Launched in 1973, as the Baljee Group (Now Royal Orchid Hotels) is one of Bangalore's most recognized names in hospitality. The Royal Orchid Hotels is the largest hotel chain in Bangalore. The Group currently includes five hotels- Hotel Royal Orchid (luxury), Royal Orchid Central (business), Royal Orchid Harsha (budget) in Bangalore. Doddi's resort (resort) and Royal Orchid Metropole (heritage) in Mysore, stated the release.