Royal Orchid hit nearly 50% growth in consolidated net profit in the final quarter of 2010. Between October and December the hospitality group made INR4.38 crore compared to INR3 crore in 2009, which represents 46% year-on-year growth in consolidated net profit.
In its financial statement, Royal Orchid 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.”
This performance sets the pace for the year ahead as the company plans to open eight new properties, two of which – the Shimoga and Mussoorie – will start operations under management contract before April.
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