MUMBAI, India (May 28, 2015) — Mahindra Holidays & Resorts India Limited (MHRIL), India’s leading leisure hospitality provider has announced its financial results for the quarter ended March 31, 2015.
- Total Income at Rs. 207.2 Crores.
- Profit from ordinary activities before depreciation and tax is Rs. 42 Crores.
- Profit after Tax (before exceptional items) is Rs. 24.9 Crores.
- Profit after Tax (PAT) is Rs. 10.4 Crores.
- Total Income at Rs. 807 Crores.
- Profit before tax from ordinary activities and depreciation is Rs. 192.3 Crores.
- Profit after Tax and before exceptional items is Rs. 93.5 Crores.
- Profit after Tax (PAT) is at Rs. 79 Crores.
After taking into account the impact of change in depreciation rate (net of tax), the profit after tax (before exceptional item) is 107.9 Crores, higher by 14% as compared to last year.
During the year, the Company added 6 new resorts in Ganapatipule, Kodaikanal, Goa, Manali, Alleppey and Kanha and additional rooms at Virajpeth and Udaipur aggregating to 409 rooms.
Commenting on the results, Arun Nanda, Chairman, Mahindra Holidays and Resorts, Limited, said, “During the previous financial year, the management spent considerable effort to improve systems and processes. Many new initiatives have been undertaken to improve member acquisition, both in terms of numbers and quality. These efforts have begun yielding results and the benefits of these will be seen in the current year. The resort management team continues to improve levels of member satisfaction and this has resulted in more satisfied members as well as a significant increase in sales from referrals.“
Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays and Resorts Limited, said, “The operating metrics of the business remain healthy both in terms of member addition and inventory addition. We have strengthened our key value proposition by adding 301 rooms this quarter. With this, our members have a choice of 45 resorts in India and abroad. We continue to focus on adding members in line with our inventory addition through our efforts in the digital space, strategic alliances and referrals, while ensuring unique holiday experiences for our ~1.83 lac members.”
ABOUT MAHINDRA HOLIDAYS & RESORTS INDIA LIMITED
Mahindra Holidays & Resorts India Limited (MHRIL), India’s leading player in the leisure hospitality industry, offers quality family holidays primarily through vacation ownership memberships. While Club Mahindra is the flagship brand, the other brands offered by the company are – Club Mahindra Fundays and Svastha Spa. As on March 31, 2015, MHRIL has ~183,000 vacation ownership members and operates 45 resorts across India and abroad.
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.5 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times
‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013. Visit us at www.mahindra.com
PRESS RELEASE SOURCE: Mahindra Holidays and Resorts India Limited
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