Mahindra Holidays & Resorts India Q3 net at Rs 23.46 cr

Mahindra Group firm Mahindra Holidays & Resorts India today reported a standalone net profit of Rs 23.46 crore for the quarter ended December 31, 2014.
The company had posted a net profit of Rs 20.30 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 also stood at Rs 206.51 crore for the quarter under consideration. It was Rs 189.44 crore for the same period year ago.
Commenting on the development, MHRIL Chairman Arun Nanda said: "We have begun to see the results of the efforts made in the last few quarters in the areas of process improvements and cost rationalisation. I believe this trend will continue."

The results for the quarter and nine months ended December 31, 2014 include the results of Bell Towers Pvt Ltd, an erstwhile wholly owned subsidiary which got merged with the company, it said.
"In view of this the results of the quarter and nine months ended December 31, 2014 include loss of Rs 1.85 crore and Rs 6.13 crore respectively of Bell Towers Pvt Ltd and hence are not comparable with the corresponding previous periods," it added.
Shares of the company today closed at Rs 269.85 on BSE, down 0.24 per cent from previous close.