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Mahindra Holidays and Resorts India reported a 61 per cent rise in its first-quarter pre-tax profit on Thursday, helped by growth in memberships and steady room occupancies.
The company, which runs the 'Club Mahindra' brand of resorts, said its consolidated profit before tax rose to Rs 14 crore ($1.7 million) in the June quarter from 87.1 million rupees a year earlier.
Its shares jumped 2.6 per cent after the results.
Travel demand has rebounded strongly from the pandemic lows, benefiting companies from airlines to hotel operators.
The hospitality firm, part of the tech-to-tractor Mahindra Group, offers holiday packages in exchange for membership fees.
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Mahindra Holidays added 3,692 members in the first quarter, taking total memberships to more than 300,000. This led to a 3 per cent year-on-year rise in total membership sales.
Its revenue rose 6 per cent to Rs 623 crore, helped by room occupancies, which stayed stable at 90 per cent.
The company owns and operates 114 resorts in India and 33 properties across Finland, Sweden and Spain.
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