Mahindra Holidays Q3 net up 15 pc at Rs 35.71 cr

Mahindra Holidays & Resorts India today reported a 15.19 per cent rise in standalone net profit at Rs 35.71 crore for the third quarter ended December 31, 2016.
The company had posted a net profit of Rs 31 crore for the corresponding period of the previous fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a filing to BSE.
Its standalone total income also rose to Rs 270.52 crore for the quarter under consideration as against Rs 240.41 crore for the same period year ago.
"We are happy to report a robust quarter in terms of all round performance. Growth in member additions by 14.4 per cent along with higher occupancies at 85 per cent has led to revenue growth of 13 per cent year on year," MHRIL MD & CEO Kavinder Singh said.

Despite the challenging conditions in the consumer discretionary spends caused by demonetisation, the company has performed well, he added.
Shares of Mahindra Holidays & Resorts India today closed 1.59 per cent up at Rs 418.05 apiece on BSE.