Hotel Leelaventure has reported that it has registered a huge net profit rise in the first quarter of the fiscal year 2010. As per the report it has managed to post a nine fold net profit rise in the quarter under review.

The company has posted a net profit of Rs 9.24 crore during the April-June quarter of fiscal year 2010-11. This net profit figure was Rs 1.04 crore in the Q1 of the previous fiscal year. This has been informed by Leelaventure in a filing at the Bombay Stock Exchange.

The net profit has gone up to almost nine times in the current quarter. So far as the net sales of the company are concerned, it is increased by 25% in the quarter that ended in 30th June, 2010.

Hotel Leelaventure has reported net sales of Rs 104.07 crore in the quarter while it was Rs 83.13 crore in the corresponding quarter a year earlier.

The company has also informed that the return of international travelers to India is the major reason of this impressive turnaround.