Mahindra Holidays & Resorts India Limited Announces Its Results For The Quarter Ended 30th June, 2016
Chennai, 29th July 2016: Mahindra Holidays & Resorts India Limited (MHRIL), India's leading leisure hospitality provider, announced its standalone financial results for the quarter ended June 30, 2016 today.
Q1FY17 Highlights - Standalone
- Total Income at Rs. 254 Crores, up 9% YOY
- EBIDTA at Rs. 62 Crores, up 11% YOY
- Profit After Tax (PAT) at Rs. 30 Crores, up 20% YOY
- Member addition at 3,630, up 18% YOY
Financial Performance (Q1FY17 - Standalone)
For the quarter ended June 30, 2016, Total Income at Rs. 254 Crores was 9% higher compared to Rs. 234 Crores in Q1FY16. Profit after Tax (PAT) for Q1FY17 at Rs. 30 Crores was 20 % higher compared to Rs. 25 Crores in Q1FY16.
Commenting on the results, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Limited said, "Our relentless 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. We have added 125 rooms this quarter taking our total room inventory to 3004. Our 46 resorts in India and abroad (together with our 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 lac members"
The Company has adopted Indian Accounting Standard ("Ind AS") with effect from April 1, 2016 and the above results for the quarter ended June 30, 2016 are as per Ind AS.
About Mahindra Holidays and Resorts India Limited
Mahindra Holidays & Resorts India Limited (MHRIL), India's leading player in the leisure hospitality industry, offers quality 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 June 30, 2016, MHRIL has 203K vacation ownership members and operates 46 resorts across India and abroad and its subsidiary, Holiday Club Resorts Oy, Finland, a leading vacation ownership company in Europe has 55K members and 31 resorts across Finland, Sweden and Spain.
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 17.8 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times 'Boldness in Business' Award in the 'Emerging Markets' category in 2013.
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