Mahindra Holidays Q3 PAT up 14.6% at Rs 35.54 crore

Mumbai: Leisure hospitality company Mahindra Holidays and Resorts India (MHRIL) today reported 14.6 per cent growth in profit after tax (PAT) at Rs 35.54 crore in the third quarter ended December 31, compared to the same period last year. The company's PAT stood at Rs 31.01 crore in the corresponding quarter of 2015-16, MHRIL said in a release issued here. MHRIL's total income grew by 13 per cent to Rs 274.80 crore during the quarter under review against Rs 243.15 crore in the third quarter of FY16. "We are happy to report a robust quarter in terms of all round performance.

Growth in member additions by 14.4 per cent along with higher occupancies at 85 per cent has led to revenue growth year on year. Despite the challenging conditions in the consumer discretionary spends caused by demonetisation, our team has performed well," MHRIL managing director and chief executive officer Kavinder Singh said. "Innovative holiday experiences, deeper member engagement year round at our 46 beautiful resorts, in the cities and online along with our newly-launched brand campaign will help in sustaining this momentum," he added. MHRIL offers family holidays primarily through vacation ownership memberships.

While Club Mahindra is the flagship brand, the other brands offered by the company are – Club Mahindra Fundays and Svaastha Spa. As on December 31, 2016, MHRIL has 2,11,000 vacation ownership members and operating 46 resorts across India and abroad and its subsidiary, Holiday Club Resorts Oy, Finland, a leading vacation ownership company in Europe has 57,000 members and 31 resorts across Finland, Sweden and Spain.