Oriental Hotels Limited reports Rs 1.08 billion in revenue for FY 2081/82 – The Himalayan Times – Nepal’s No.1 English Daily Newspaper
AGM approves right-share issuance to fund property renovation
LALITPUR, OCTOBER 19
The 28th Annual General Meeting (AGM) of Oriental Hotels Limited was held on Friday under the chairpersonship of Subhadra Shrestha at the Nepal Administrative Staff College, Jawalakhel.
The AGM approved the company’s Annual Report for FY 2081/82, which showed total revenue of Rs 1.08 billion and a net profit of Rs 43.8 million, down from Rs 124 million in the previous year. The decline was attributed to increased market competition and the delayed renovation of its older complex.
To support modernization, the company announced a right-share issuance worth NPR 315.5 million at a ratio of 0.2663 per share, aimed at financing the reconstruction of upper floors of its existing building.
The hotel also received the Bronze Award from the Institute of Chartered Accountants of Nepal (ICAN) for outstanding financial presentation under the Nepal Financial Reporting Standards (NFRS).
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