Mahindra Holidays Q2 net up 6.7% at Rs 29 cr

Company had posted net profit of Rs 27.01 crore for the July- September quarter of the previous fiscal, 2012-13

Mahindra Holidays Resorts today reported 6.70% rise in net profit to Rs 28.82 crore for the second quarter ended September 30, 2013-14.

 

It had posted net profit of Rs 27.01 crore for the July- September quarter of the previous fiscal, 2012-13, Mahindra Holidays Resorts India Ltd (MHRL) said in a statement.

 

Total income of the company also rose to Rs 189.15 crore in Q2, 2013-14, from Rs 164.54 crore in the year-ago period.

 

"Mahindra Holidays will continue to pioneer improvements in the vacation ownership industry. Service enhancement and member satisfaction remains a priority," MHRIL Chairman Arun Nanda said.

 

New projects in Kanha in Madhya Pradesh and Naldehra near Shimla (Himachal Pradesh) are progressing on schedule. The company's flagship brand, Club Mahindra has also recently unveiled its new brand identity, MHRIL said.

 

"As leaders in the vacation ownership category, our new brand look and promise is a renewal of our vow to remain committed to customer delight," MHRIL Managing Director & CEO Rajiv Sawhney said.

 

Significant service upgrades, an online booking system for members, and reinvigorated resorts and holiday experiences are a visible manifestation of this promise, he added.

 

MHRIL operates over 41 resorts across India and abroad and is part of USD 16.2 billion business conglomerate Mahindra Group,based in Mumbai.

 

MHRIL scrip closed at Rs 211.75 on the BSE, down 1.44%.