Mahindra Holidays & Resorts Q1 net profit falls 58% to Rs 14 cr
Mahindra Group firm Mahindra Holidays & Resorts India today reported a 57.58 percent 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, Mahindra Holidays & Resorts India 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 digitization 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 CEO Kavinder Singh said.
Shares of Mahindra Holidays & Resorts India today closed at Rs 290.05 per scrip on BSE, up 0.75 percent from its previous close.
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