Mahindra Holidays Q1 profit rises 20% to Rs30 crore
- North Korea to send 230-strong cheering squad to Olympics in South Korea: Seoul
- IEA chief says huge opportunity to export LNG to India, China
- Mercedes plots more SUVs after compact models expand luxury lead
- IT shares surge, TCS, Infosys, HCL Tech touch 52-week high
- Modi, Netanyahu begin roadshow in Ahmedabad
Mumbai: Leisure hospitality provider Mahindra Holidays and Resorts India (MHRIL) on Friday reported a 20% rise in consolidated net profit at Rs.30 crore for the quarter ended 30 June.
MHRIL’s net profit in the corresponding quarter of 2015-16 stood at Rs.25 crore, the company said in a release issued here. Total income was up 9% at Rs.254 crore against Rs.234 crore in the year-ago period.
“Our focus on enhancing member experiences for the entire family along with the robustness of our business model has helped us deliver on key metrics of membership additions, income and profit growth along with the margin expansion,” MHRIL managing director and chief executive officer Kavinder Singh said.
“We have added 125 rooms this quarter taking our total room inventory to 3,004. Our 46 resorts in India and abroad (together with Finland based subsidiary’s 31 resorts in Finland, Spain and Sweden) puts us in a unique position to meet the evolving vacationing needs of Club Mahindra’s over two lakh members,” Singh added.
With addition of 3,630 members, it went up 18% annually. As on 30 June 2016, MHRIL has 2,03,000 vacation ownership members and operates 46 resorts across India and abroad. Its subsidiary, Holiday Club Resorts Oy, Finland, a leading vacation ownership company in Europe has 55,000 members and 31 resorts across Finland, Sweden and Spain.