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MHRIL profit after tax down 11% at Rs 31.7 crore

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Press Trust of India Mumbai
Mahindra Holidays and Resorts India (MHRIL) today reported 11 per cent decline in its standalone profit after tax during quarter ended December 31, at Rs 31.7 crore.

The leisure hospitality company's PAT stood at Rs 35.7 crore in the same period last year, MHRIL said in a release issued here.

Total income was flat at Rs 272.5 crore compared to Rs 274.8 crore last year. The member additions was at 11,904, lower by 3.8 per cent, from the same period last year.

Meanwhile, the company's PAT for the nine month period was flat at Rs 95.8 crore compared to Rs 98.8 crore in the same period last year.

Total income was at Rs 801.2 crore compared to Rs 790.2 crore last year, a growth of 1.4 per cent.

The company's subsidiary, Holiday Club Resorts Oy, Finland (HCR), in which MHRIL holds 95.16 per cent, recorded a turnover of Euro 120.52 million (Rs 894.2 crore) for the nine months period ended December 31, 2017, against Euro 116.18 million (Rs 862 crore) for the same period last year.

Commenting on the results, MHRIL Managing Director and Chief Executive Officer Kavinder Singh said, "Our sustained focus on improvement in member quality continues with higher upfront payments, reduced tenure of instalments and improved collections. Resort occupancies were at 85 per cent and resort revenues grew by 8 per cent year-on-year aided by new and unique family leisure experiences."

The company's cash position has improved significantly and stands at Rs 411 crore, which is up 117 per cent year-on-year, he added.

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First Published: Jan 31 2018 | 5:10 PM IST

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