Mumbai, India (October 31, 2014): Mahindra Holidays & Resorts India Limited (MHRIL), India’s leading leisure hospitality provider announced its financial results for the quarter ended September 30, 2014 yesterday.
- Total Income at Rs. 200 Crore, up 5% QoQ.
- EBITDA at Rs. 54.72 Crore, up 20% QoQ.
- Profit after Tax (PAT) for the quarter was Rs. 24.71 Crore; up 21% QoQ.
The results of the quarter incorporate an additional charge on account of depreciation (consequent to change of rules) and consolidation of the results of Bell Tower Resorts Private Limited, post its merger with the Company. On a like-to-like basis, the EBITDA & PBT for the quarter stood at Rs. 59 Crore and Rs. 48.55 Crore, up from Rs. 52.44 Crore and Rs. 43.23 Crore, respectively, in the same quarter last year, as per details attached.
Commenting on the second quarter results, Arun Nanda, Chairman, MHRIL said, “The transition from traditional avenues of customer acquisition to newer ones like digital is delivering encouraging results. The focus on customer satisfaction remains our top priority – we believe that the most effective way of growing this business is with a happy customer base. Toward that end, we expect to shore up our inventory significantly across properties in this financial year. Among others, inventory in key properties that will be delivered over the second half include Virajpet, Kanha, Munnar and Udaipur, besides acquisition of new properties under consideration.”
Vasant Krishnan, Chief Financial Officer, MHRIL, said “We are beginning to see some positive impact of cost rationalization measures and strengthening of the financial and acquisition processes and we expect this momentum to continue.”
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 September 30, 2014, MHRIL has ~175,000 vacation ownership members and operates 40 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 employs more than 180,000 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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