Gokarna Forest Resort’s profit amounts to Rs 1.35 bn in past five years

KATHMANDU, July 31: Gokarna Forest Resort Private Limited has made a profit of Rs 1.35 billion in the past five years, according to the credit rating agency ICRA Nepal Limited. The resort had made an operating profit of Rs 202 million in six months of the financial year 2022/2023.

The resort is currently constructing an international level conference centre with multiple halls to hold small to large scale events at an estimated cost of Rs 800 million. The hall of the resort is expected to come into operation from April 2024.

According to ICRA, the company has made an operating profit of Rs 424 million in the financial year 2019, Rs 262 million in the financial year 2020, Rs 120 million in the financial year 2021 and Rs 339 million in the financial year 2022.  The company has earned 30 percent of the total earnings from the holding banquets.

Yeti/Thamserku Group has invested in Gokarna Forest Resort. Established in 1995, this resort is at a distance of 9 km from Tribhuvan International Airport and has 100 rooms.

Ratings have been made for the resort’s long-term loan of Rs 660.51 million rupees and short-term loans of Rs 60.97 million. ICRA has given a double B rating for the company's long-term debt and an A4 rating for short-term debt.