Oriental Hotels posts net profit of Rs 3.2 cr for Q1

Oriental Hotels Ltd today reported a near two-fold increase in its net profit for the first quarter ended June 30, 2011 at Rs 3.26 crore.

During the corresponding quarter of last fiscal, the company's net profit stood at Rs 1.68 crore, it said in a filing to the Bombay Stock Exchange (BSE).

The firm's net sales for the three months ended June 30, 2011 increased 13.98% to Rs 54.95 crore, as against Rs 48.21 crore in the same period of last fiscal.

The company's scrips closed at Rs 29.50, down 1.50% from previous close on the BSE.