MUMBAI, India (February 1, 2017) — Mahindra Holidays & Resorts India Limited (MHRIL), India’s leading leisure hospitality provider, announced its standalone financial results for the quarter and nine months ended December 31, 2016 yesterday.
Q3FY17 Highlights – Standalone:
• Member Additions at 4436, up 14.4% YoY
• Total Income at Rs. 274.80 crores, up 13.0 % YoY
• Profit after Tax (after other comprehensive income) at Rs. 35.54 crores, up 14.6% YoY
For the third quarter ended December 31, 2016, Total Income stood at Rs. 274.80 crores as against Rs. 243.15 crores in Q3FY16, up 13.0%. Profit after Tax (PAT) stood at Rs. 35.54 crores as against Rs. 31.01 crores in Q3FY16, up 14.6%.
In the nine months ended December 31, 2016, Total Income stood at Rs. 790.20 crores as against Rs. 713.96 crores in the corresponding period last year, up 10.7%. Profit after Tax (PAT) stood at Rs. 98.47 crores as against Rs. 83.14 crores, up 18.4% YoY .
Commenting on the results, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Limited said, “We are happy to report a robust quarter in terms of all round performance. Growth in member additions by 14.4% along with higher occupancies at 85% has led to revenue growth of 13% year on year. Despite the challenging conditions in the consumer discretionary spends caused by demonetization, our team has performed well. Innovative holiday experiences, deeper member engagement year round at our 46 beautiful resorts, in the cities and online along with our newly-launched brand campaign will help in sustaining this momentum.”
About Mahindra Holidays and 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 Svaastha Spa.
As on December 31, 2016, MHRIL has -211K vacation ownership members and operates 46 resorts across India and abroad and its subsidiary, Holiday Club Resorts Oy, Finland, a leading vacation ownership company in Europe has -57K members and 31 resorts across Finland, Sweden and Spain.
The Mahindra Group is a USO 17.8 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in aerospace, agribusiness, components, commercial vehicles, consulting services, defence, energy, industrial equipment, logistics, real estate, steel, and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries.
Learn more on Mahindra on www.mahindra.com/ Twitter and Facebook: @MahindraRise
PRESS RELEASE SOURCE: Mahindra Holidays and Resorts India Limited
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