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Mahindra Holidays Q2 net profit at Rs 24 cr

Press Trust of India  |  New Delhi 

Mahindra Holidays & Resorts India on Monday posted a consolidated net profit of Rs 24.42 crore for the September quarter.

The company had reported a net loss of Rs 3.34 crore in the July-September period of 2018-19.

Total income during the second quarter rose to Rs 573.83 crore as compared with Rs 532.88 crore in the year-ago period, Mahindra Holidays & Resorts India said in a regulatory filing.

"Our robust business model has helped us deliver improvement in key performance metrics: income growth, profit margin expansion and PAT growth this quarter," Mahindra Holidays & Resorts India MD & CEO Kavinder Singh said.

The company's cash position has improved to Rs 675 crore and this is despite slowdown in discretionary spends in economy and relatively lower resort occupancies due to heavy rains/floods in Kerala, Karnataka, Himachal Pradesh and Uttarakhand, he added.

Shares of the company closed 0.32 per cent up at Rs 233.10 apiece on the BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 18:25 IST