EIH Associated Hotels FY11 net jumps twofold

EIH Associated Hotels that operates Trident hotels today reported over two-fold increase in its consolidated net profit for the year ended March 31, 2011 at Rs 12.01 crore.

For the 12 months ended March 31, 2010, the company's net profit was Rs 5.28 crore, the company said in a filing to the Bombay Stock Exchange (BSE).

The firm's net sales for the year ended March 31, 2011 increased 17.24% at Rs 173.44 crore as against Rs 147.93 crore in the previous fiscal.

EIH Associated Hotels' board of directors at its meeting held on May 29, 2011, recommended a dividend of Rs 2.50 per equity share of Rs 10 each for the year ended March 31, 2011.

The company's scrip closed at Rs 140.65, up 1.77% from the previous close on the BSE.