Mahindra Holidays gains on strong Q3 earnings

Net profit for December 2015 quarter surged 33% to Rs 31.2 crore compared with Rs 23.4 crore in the December 2014 quarter

Mahindra Holidays & Resorts India has gained nearly 3% to Rs 387 on the Bombay Stock Exchange after the Mahindra Group company registered 33% increase in net profit at Rs 31.2 crore for the third quarter ended December 2015 compared with Rs 23.4 crore in the same period last fiscal.

Income from operations was up 14.9% to Rs 237.3 crore in the December quarter compared with Rs 206.5 crore in the same quarter last year.

The stock opened at Rs 315 and touched a high of Rs 317. At 9:35am, nearly 10,000 shares were traded on both the stock exchanges.