Kathmandu. The financial condition of City Hotel Limited, the first hotel operator of Nepal’s first Hyatt Centric brand, has improved. The company’s total income increased by 4.7 percent and the net loss decreased by 28 percent. In the first quarter of the current year, the hotel earned a profit of Rs 12.97 crore. The total income of the hotel was Rs 11.55 crore in the same period last year.

According to the financial statements released on Friday, the company’s net loss stood at Rs 4.03 crore as of mid-October of the current financial year. The loss was Rs 5.57 crore in the same period of the previous financial year.

The operating profit of the hotel has increased by 53 percent. The operating profit of the hotel has increased from Rs 2.43 crore in the first three months of the year to Rs 3.72 crore this year.

The hotel has reduced long-term loans to Rs 2.48 billion and short-term loans to Rs 3.57 crore. In the first quarter of last year, the hotel’s long-term loan was Rs 3.20 billion and short-term debt was Rs 14.17 crore. The hotel’s earnings per share was negative at Rs 1.33 crore.