Asian Hotels, a single hotel company based in Delhi, has reported a net profit of Rs 97 m for the 3QFY01 a decline of 3% YoY. The company's sales grew by 7.2% during this period as a result of better occupancy and average room rates.
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As a result of cost controls in the areas of raw materials and energy costs the company's total expenditure fell by 1.2%, despite a 8% increase in staff expenses.
This resulted in a 22% jump in operating profits in 3QFY01.
On the net level however the company saw a decline of 3%, mainly due to higher depreciation costs and higher tax provisions.
On the current price of Rs 88, Asian Hotels is trading at 5.6x FY00 EPS of Rs 15.9.
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