Quality Inns International Inc. reported record profits for its fiscal year ending on Aug. 31, figures which show the Silver Spring motel company tripled its net income from the previous years.
The company's net income totaled $4.3 million ($1.63 a share) compared with $1.4 million (53 cents) for the previous fiscal year. Revenues rose to $62 million from $57 million.
Quality Inns operates 324 facilities, having added 50 new inns to the chain in fiscal year 1979.
Fourth quarter profits rose to $1.6 million (62 cents) from $692,000 (26 cents). Revenues rose to $17 million from $15.4 million.
In other local reports, Bank of Virginia Co. said its third-quarter operating profits increased to $3.8 million (76 cents a share) from $3.4 million (66 cents).
Wapora Inc., a District environmental and energy consulting firm, announced a slight profit increase for the first fiscal quarter ended Sept. 30. Profits rose to $69,780 (12 cents a share) from $65,333 (11 cents), as sales rose to $1.7 million from $1.4 million.
The Hotel Investors, a Chevy Chase real estate investment trust, announced a 50 percent increase in profits for the year ended Aug. 31, to $3.3 million ($2.05 a share) from $2.2 million ($1.40) for the 1978 fiscal year. Directors declared an increased dividend of 55 cents a share, payable Nov. 1 to owners of record Oct. 17.