Mahindra Holidays & Resorts Q2 profit at Rs 24.71 cr

Mahindra Holidays & Resorts India Ltd (MHRIL) today reported standalone net profit of Rs 24.71 crore for the second quarter ended on September 30, 2014-15.
The Mahindra & Mahindra group firm had posted net profit of Rs 28.82 crore during the July-September quarter of 2013- 14. MHRIL said the results were not comparable on account of a merger.
Its total income during Q2 was Rs 198.24 crore. It was Rs 189.15 crore during the year-ago period.
"The transition from traditional avenues of customer acquisition to newer ones like digital is delivering encouraging results. The focus on customer satisfaction remains our top priority - we believe that the most effective way of growing this business is with a happy customer base," said MHRIL Chairman Arun Nanda.

On the outlook, he said: "Toward that end, we expect to shore up our inventory significantly across properties in this financial year. Among others, inventory in key properties that will be delivered over the second half include Virajpet, Kanha, Munnar and Udaipur, besides acquisition of new properties under consideration."
For the first half of 2014-15, MHRIL's net profit is Rs 45.13 crore. It was Rs 49.83 crore in the year-ago period.

Total income in the first half of the fiscal is Rs 384.41 crore. It was Rs 369.45 crore a year ago.
The company said that the figures was not comparable due to merger of its wholly owned subsidiary Bell Towers Resorts Ltd into the company.

"In view of this, the results for the quarter and six months ended on September 30, 2014 include loss of Rs 4.28 crore of erstwhile Bell Towers Resorts Pvt Ltd for the six months ended September 30, 2014 and hence are not comparable with the corresponding previous periods," MHRIL said.
MHRIL scrip closed at Rs 287.60, down 0.36 per cent, on the BSE.