Mahindra Holidays Q1 net up 20% at Rs 30 crore

Leisure hospitality provider Mahindra Holidays and Resorts India (MHRIL) today reported a 20 per cent rise in consolidated net profit at Rs 30 crore for the quarter ended June 30.
MHRIL's net profit in the corresponding quarter of 2015-16 stood at Rs 25 crore, the company said in a release issued here.
Total income was up 9 per cent at Rs 254 crore against Rs 234 crore in the year-ago period.
"Our focus on enhancing member experiences for the entire family along with the robustness of our business model has helped us deliver on key metrics of membership additions, income and profit growth along with the margin expansion," MHRIL Managing Director and Chief Executive Officer Kavinder Singh said.

"We have added 125 rooms this quarter taking our total room inventory to 3,004. Our 46 resorts in India and abroad (together with Finland based subsidiary's 31 resorts in Finland, Spain and Sweden) puts us in a unique position to meet the evolving vacationing needs of Club Mahindra's over two lakh members," Singh added.
With addition of 3,630 members, it went up 18 per cent annually.
As on June 30, 2016, MHRIL has 2,03,000 vacation ownership members and operates 46 resorts across India and abroad. Its subsidiary, Holiday Club Resorts Oy, Finland, a leading vacation ownership company in Europe has 55,000 members and 31 resorts across Finland, Sweden and Spain.