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Mahindra Holidays & Resorts Q1 net profit falls 58% to Rs 14 cr

Press Trust of India  |  New Delhi 

Group firm Holidays & Resorts today reported a 57.58 per cent dip in its standalone net profit to Rs 13.73 crore for the quarter ended June 30, 2018.

The company had posted a net profit of Rs 32.33 crore for the corresponding period of the previous fiscal, Holidays & Resorts Ltd (MHRIL) said in a filing to BSE.

Standalone total income of the company stood at Rs 242.32 crore for the quarter under consideration. It was Rs 273.57 crore for the same period year ago.

"Our strategy of enhancing our resort experiences, member engagement and digitisation of customer facing processes has yielded significant growth in all key operational and financial metrics e.g. member additions, resort income, high occupancies and improved profit margins," MHRIL MD and said.

Shares of Mahindra Holidays & Resorts today closed at Rs 290.05 per scrip on BSE, up 0.75 per cent from its previous close.

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

First Published: Thu, August 09 2018. 18:30 IST