MHRIL Q2 PAT down by 3.3% at Rs 31.7 crore

Leisure hospitality provider Mahindra Holidays and Resorts India (MHRIL) today reported a 3.3 per cent decline in profit after tax (PAT) at Rs 31.7 crore in the second quarter of the current financial year.
The company's PAT stood at Rs 32.8 crore in the second quarter of 2016-17, MHRIL said in a release issued here.
MHRIL's total income went down by 3.6 per cent at Rs 251.9 crore during the quarter under review, compared to Rs 261.4 crore in the corresponding period of the previous financial year.
Member additions dropped by 14.1 per cent at 3,705 while the cumulative member base was at 2,25,635.

"Our focus on creating new and unique member experiences at 53 exotic resorts with improvement in cost efficiencies has helped us increase resort revenues, occupancies and operating margins. We continue to strengthen our customer acquisition processes, which has impacted our member additions in the short term," MHRIL Managing Director and Chief Executive Officer Kavinder Singh said.
In the first half of FY18, there was 1.5 per cent growth in profit after tax at Rs 64 crore compared to Rs 63.1 crore in the same period last year.
Similarly, the total income was at Rs 528.7 crore compared to Rs 515.4 crore last year, a growth of 2.6 per cent.