Mahindra Holidays & Resorts India Limited (MHRIL), India’s leading leisure hospitality provider has announced its financial results for Q3 FY16.
For the third quarter ended December 31, 2015, total income stood at Rs 241 Crore as against Rs 209.5 Crore in Q3 FY15, up 15% YoY. Profit after Tax (PAT) for Q3 FY16 stood at Rs 31.2 Crore as against Rs. 23.4 Crore in the last fiscal, an increase of 33%.
For the first nine months of the fiscal (9MFY16), total income stood at Rs 708.3 Crore as against Rs 600.3 Crore in 9MFY15, 18% increase YoY. While Profit after Tax (PAT) stood at Rs 85.2 Crore compared to Rs 68.6 Crore in Q3 FY15, up by 24%.
Commenting on the results, 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”.
Mahindra Holidays & Resorts India Limited (MHRIL) offers quality family holidays primarily through vacation ownership memberships.