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The 27th Annual General Meeting of Oriental Hotels Limited took place on Thursday, Ashwin 20, 2081 (October 6, 2024), at the Nepal Administrative Staff College in Jawalakhel, Lalitpur, under the leadership of the company's Chairman, Mrs. Subhadra Shrestha. During the meeting, the board of directors presented the company's annual report for the financial year 2080/081, along with the balance sheet, auditor’s report, profit and loss statement, cash flow statement, and related financial comments, all of which were approved.
For the financial year 2080/081, the hotel reported total revenue of Rs. 121.67 crores, with operating expenses amounting to Rs. 96.70 crores, resulting in an operating profit of Rs. 24.97 crores. After accounting for all additional expenses, the net profit stood at Rs. 12.40 crores, compared to the previous year’s profit of Rs. 18.46 crores. The higher profit from the previous year was due to an extraordinary income; however, when this is excluded, the hotel’s sales and profit margins have shown an increase. The outlook for tourism is optimistic, with anticipated growth in tourist arrivals in the coming days.
This year, the company announced a dividend distribution of 5.26316 percent, comprising a 5 percent bonus share and a cash dividend of Rs. 29.68 lakh (0.26316 percent) for tax purposes. The company’s new building is expected to be completed and operational this year, which will further boost income. Additionally, modernization efforts on the third, fourth, and fifth floors of the main building have begun.
The hotel also received the prestigious Gold Award for the National Best Presented Annual Report Award 2023 from the Nepal Chartered Accountant Institute, recognizing its exemplary financial statements in accordance with Nepal Financial Reporting Standards.
The Chairman expressed her appreciation to all shareholders and stakeholders, assuring that the hotel would continue to operate in line with the feedback and suggestions provided by the shareholders.
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