27th Annual General Meeting of Oriental Hotels Limited

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EDUCAST, Oriental Hotels Limited convened its 27th Annual General Meeting on October 6, 2024, at the Nepal Administrative Staff College, under the leadership of Chairwoman Mrs. Subhadra Shrestha. The meeting focused on the company’s performance for the financial year 2080/081, during which the board presented the annual report, balance sheet, profit and loss account, and cash flow statement.

In the financial year 2080/081, Oriental Hotels reported a total revenue of Rs. 121.67 crores, with operating expenses amounting to Rs. 96.70 crores. The operating profit stood at Rs. 24.97 crores, contributing to an overall profit of Rs. 12.40 crores, despite a decrease from last year’s profit of Rs. 18.46 crores due to extraordinary income recorded previously. However, the board noted an increase in sales and profits when extraordinary income is excluded, indicating positive growth in the hotel sector amid anticipated rises in tourism.

The company announced a dividend distribution of 5.26316 percent, including a 5 percent bonus share and a cash dividend of Rs. 29.68 lakh allocated for tax purposes. Notably, the construction of a new building is set for completion this year, promising to enhance income potential, alongside ongoing modernization efforts on several floors of the main building.

In recognition of its commitment to transparency and financial integrity, Oriental Hotels was awarded the Gold Award for the National Best Presented Annual Report 2023 by the Nepal Chartered Accountant Institute.

Chairwoman Shrestha concluded the meeting by expressing gratitude to shareholders and stakeholders, reaffirming the company’s commitment to incorporating their feedback in future operations.