Oriental Hotels Ltd's has reported a lower net profit of Rs 4.85 crore for the quarter ended March 31, against Rs 12 crore in the previous year period.
Though the turnover for the period went up by over 15 per cent to Rs 82.72 crore from Rs 71.52 crore, expenses shot up by Rs 18 crore during the quarter.
The board of directors has recommended a dividend of Rs 0.45 a share.
For the whole year, the company's consolidated net profit stands at Rs 22.5 crore (Rs 29.17 crore in the previous year) on a turnover of Rs 319.87 crore (Rs 277.42 crore). In its regulatory filing, it has been mentioned that the income for the current year includes an additional turnover of Rs 6.53 crore from the new hotel in Coimbatore.