Mahindra Holidays reports Q1 PAT at Rs 29.8 crore

NEW DELHI: Mahindra Holidays & Resorts India Ltd on Saturday reported a consolidated profit after tax of Rs 29.8 crore for the first quarter ended June 30, boosted by higher revenue. The company had posted a consolidated loss after tax of Rs 21.4 crore in the same quarter last fiscal, the company said in a regulatory filing.

The consolidated revenue from operations during the quarter under review stood at Rs 604. 85 crore against Rs 370.87 crore in the year-ago period, it added.

Focus on adding room inventory at a faster pace along with creating immersive experiences at its resorts helped the company deliver the highest ever resort revenues, higher occupancies and member spends, Mahindra Holidays & Resorts India Ltd (MHRIL) Managing Director and CEO Kavinder Singh said. Member additions have been robust with higher average unit realisation, he added. On a standalone basis member additions for the quarter stood at 3,807, with a cumulative member base of around 2.7 lakh. During the quarter, the company said with the addition of a new resort at Gangtok and the extension of Udaipur resort have added 107 rooms. It has a total inventory of 4,617 rooms across 84 resorts, the MHRIL said. On the company's European operations, Singh said Holiday Club Resorts (HCR) delivered a significant improvement in Timeshare and Spa Hotels Revenues despite unprecedented cost pressures due to high inflation.