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Mahindra Holidays Q4 net up 4.5% to Rs 31.8 crore

Press Trust of India  |  Mumbai 

Mahindra Holidays and Resorts (MHRIL) today reported 4.5 per cent growth in standalone profit after (PAT) at Rs 31.8 crore for the fourth quarter of 2016-17.

The company's standalone PAT stood at Rs 30.5 crore in the corresponding quarter of the previous financial year.

The total grew by 26.3 per cent at Rs 315.7 crore in the last quarter of FY17 from Rs 249.9 crore in the same period last year.

For the year ended March 31, MHRIL's PAT went up by 39 per cent to Rs 145.5 crore from Rs 105 crore in the previous fiscal.

The company's board announced the issue of bonus in the ratio of 1:2 - that is one bonus equity share for each two fully paid equity held.

The total for the year (FY17) went up by 43 per cent to Rs 2,309.9 crore from Rs 1,612.9 crore in the previous fiscal.

"Our focus in enhancing the aspirational value of 'Club Mahindra' brand through innovations in creating unique experiences at our resorts and the addition of five new resort destinations has helped us build momentum as is evident through significant growth in member additions, resort revenues and profits," said MHRIL Managing Director and Chief Executive Kavinder Singh.

The company has four properties in pipeline - two in Himachal Pradesh, one each in Goa and Kerala, he said.

"We have four projects in pipeline which is a mix of both green field and expansion of current properties with an overall 600 rooms. These four projects will be developed with an investment of Rs 600 crore," he added.

Currently, the company has 2,18,138 members. It, along with its subsidiary HCR, has a bouquet of 81 resorts across India, Thailand, Malaysia, Austria, Dubai, Finland, Sweden and Spain.

The company scrip closed 1.16 per cent down at Rs 459.60 a piece on the BSE, whose benchmark index Sensex gained 0.10 per cent.

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

First Published: Fri, May 19 2017. 19:43 IST