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Mahindra Holidays reports Q1 PAT at Rs 29.8 cr on account of higher revenue

Mahindra Holidays & Resorts India Ltd on Saturday reported a consolidated profit after tax of Rs 29.8 crore for the first quarter ended June 30, boosted by higher revenue

Mahindra Holidays reports Q1 PAT at Rs 29.8 cr on account of higher revenue

Mahindra Holidays

Press Trust of India New Delhi

Mahindra Holidays & Resorts India Ltd on Saturday reported a consolidated profit after tax of Rs 29.8 crore for the first quarter ended June 30, boosted by higher revenue.

The company had posted a consolidated loss after tax of Rs 21.4 crore in the same quarter last fiscal, the company said in a regulatory filing.

The consolidated revenue from operations during the quarter under review stood at Rs 604. 85 crore against Rs 370.87 crore in the year-ago period, it added.

Focus on adding room inventory at a faster pace along with creating immersive experiences at its resorts helped the company deliver the highest ever resort revenues, higher occupancies and member spends, Mahindra Holidays & Resorts India Ltd (MHRIL) Managing Director and CEO Kavinder Singh said.

 

Member additions have been robust with higher average unit realisation, he added.

On a standalone basis member additions for the quarter stood at 3,807, with a cumulative member base of around 2.7 lakh.

During the quarter, the company said with the addition of a new resort at Gangtok and the extension of Udaipur resort have added 107 rooms.

It has a total inventory of 4,617 rooms across 84 resorts, the MHRIL said.

On the company's European operations, Singh said Holiday Club Resorts (HCR) delivered a significant improvement in Timeshare and Spa Hotels Revenues despite unprecedented cost pressures due to high inflation.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jul 30 2022 | 9:15 PM IST

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