Mahindra Holidays Q2 profit jumps 17% to Rs 29 cr

Leisure hospitality provider Mahindra Holidays and Resorts India (MHRIL) today reported a 17 per cent surge in profit to Rs 28.9 crore for the quarter ended September 30.
The company's profit for the corresponding quarter last year stood at Rs 24.7 crore, MHRIL said in a statement.
The total income went up by 18 per cent in the second quarter and stood at Rs 236.3 crore as against Rs 200.1 crore in the financial year 2015.
"A 50 per cent growth in member addition during the quarter despite the current economic environment, is a reflection of the level of customer satisfaction," Mahindra Holidays Chairman Arun Nanda said.

For the first half of the fiscal (H1FY16), profit went up by 20 per cent to Rs 53.9 crore compared with Rs 45.1 crore in H1FY15.
The total income stood at Rs 467.2 crore as against Rs 390.7 crore in H1FY15, a 20 per cent increase year-on-year.

"Our successful execution of the strategy to make Club Mahindra an aspirational brand that provides unique family leisure holidays along with lifestyle experiences, is helping create consumer pull for our offering.
"This is reflected in healthy operating metrics such as member additions, referrals and successful alliances," Mahindra Holidays MD and CEO Kavinder Singh said.

MHRIL has 1,90,000 vacation ownership members and operates 45 resorts across India and abroad.