The company had posted a net profit of Rs 21.01 crore for the corresponding period of the previous fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a filing to BSE.
Standalone total income of the company, however, rose to Rs 186.16 crore for the quarter under consideration as against Rs 180.29 crore for the same period year ago.
"With effect from April 1, 2014, the basis of charging depreciation has been changed as per Schedule II to the Companies Act 2013. Consequently, the depreciation for the quarter is higher by Rs 5.32 crore," MHRIL said in a statement.
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