Mahindra Holidays Q4 net down 57% at Rs 10.42 crore

Revenue drops 6.7% to Rs 218 crore

Mahindra Holidays & Resorts India today reported a 57% drop in net profit at Rs 10.42 crore for the quarter ended March 31, 2015.

Net profit was Rs 24.38 crore during the same quarter last year.

Total income stood at Rs 203.92 crore during the quarter compared to Rs 218.62 crore in the corresponding quarter last year, a decline of 6.7%.

During the year, the company added six new resorts - Ganapatipule in Maharashtra, Kodaikanal in Tamil Nadu, Goa, Manali in Himachal Pradesh, Alleppey in Kerala and Kanha in Madhya Pradesh and additional rooms at Virajpeth in Karnataka and Udaipur in Rajasthan aggregating to 409 rooms.

Arun Nanda, chairman, Mahindra Holidays and Resorts said that the management focused on improving systems and process and new initiatives were taken to improve member acquisition, both in terms of numbers and quality during the last fiscal.

"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 CEO of the company said that the operating metrics of the business remain healthy both in terms of member addition and inventory addition.

The company strengthened its key value proposition by adding 301 rooms this quarter. With this, the company has 45 resorts in India and abroad.