Mahindra Holidays & Resorts India reports Q1 net loss of Rs 32.37 cr

Mahindra Holidays & Resorts India Ltd (MHRIL) on Friday reported a consolidated net loss of Rs 32.37 crore for the quarter ended June 30, 2020 on account of the coronavirus lockdown.

The company had posted a net profit of Rs 78.52 lakh for the corresponding period of the previous fiscal, MHRIL said in a filing to BSE.

Consolidated total income of the company stood at Rs 325.20 crore for the quarter under consideration. It was Rs 626.12 crore for the same period a year ago, it added.

As on July 31, 2020, MHRIL has re-opened 20 resorts. "As our members start holidaying, once travel restrictions are eased off, we expect our occupancies to go up," the company said.

Shares of Mahindra Holidays & Resorts India closed at Rs 157.70 per scrip on BSE, up 0.54 per cent from its previous close.