Mumbai, 22nd January 2016: Mahindra Holidays & Resorts India Limited (MHRIL), India’s leading leisure hospitality provider announced its financial results for the quarter ended December 31, 2015 today.
For the third quarter ended December 31, 2015, Total Income stood at Rs. 241.0 Crores as against Rs. 209.5 Crores in Q3FY15, up 15% YoY. Profit after Tax (PAT) for Q3FY16 stood at Rs. 31.2 Crores as against Rs. 23.4 Crores in the year-ago period, an increase of 33%.
For the first nine months of the fiscal (9MFY16), Total Income stood at Rs.708.3 Crores as against Rs. 600.3 Crores in 9MFY15, a 18% increase year-on-year. Profit after Tax (PAT) stood at Rs. 85.2 Crores (Rs. 68.6 Crores in 9MFY15), up 24%.
Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Limited, said, ”Our proposition of family leisure vacations through the vacation ownership model is gaining traction as seen by growth in new member additions, resort income, total income and improved Profit Before Tax margin. This has been achieved through prudent cost management actions and focus on operating metrics such as member satisfaction levels and a healthy inventory position, despite the overall weak sentiment in the consumer discretionary space”.