Mahindra Holidays & Resorts India Limited Announces it's Results for the Quarter Ended 31st Dec, 2017
Q3 FY’18 Financial Highlights - Standalone
- Member Additions at 4194; lower by 5.5% YoY; higher by 13.2% sequentially
- Total Income at Rs. 272.5 crs; lower by 0.8% YoY;
- Profit After Tax at Rs. 31.7 crs; lower by 11.1% YoY;
YTD Dec’17 Financial Highlights - Standalone
- Member Additions at 11904; lower by 3.8% YoY
- Cumulative Member Base at 229,643; up by 8.3% YoY
- Total Income at Rs. 801.2 crs; up by 1.4% YoY
- Profit After Tax at Rs. 95.8 crs; lower by 3.1% YoY
Mumbai, 31st Dec 2017: Mahindra Holidays & Resorts India Limited (MHRIL), India’s leading leisure hospitality provider announced its standalone financial results for the third quarter of fiscal 2018 today.
Q3 FY 18 Financial Performance
On a Standalone basis our Q3 FY’18 performance: Total Income at Rs.272.5 crs as compared to Rs. 274.8 crs last year and profit after tax at Rs. 31.7 crs compared to Rs. 35.7 crs last year.
YTD Dec 17 Financial Performance
On a Standalone basis our YTD Dec’17 performance: Total Income at Rs.801.2 crs as compared to Rs. 790.2 crs last year, a growth of 1.4% and profit after tax at Rs. 95.8 crs compared to Rs. 98.8 crs last year.
The Company’s material subsidiary, Holiday Club Resorts Oy, Finland (HCR), in which the Company holds 95.16%, recorded a turnover of Euro 120.52 mn (Rs. 894.2 crs.) for the nine months period ended December 31, 2017, as against Euro 116.18 mn (Rs. 862.0 crs) for the same period last year, a constant currency growth of 3.7%.
The profit after tax of HCR (unaudited) for this period stands at Euro 3.8 mn, as against a loss of Euro 0.04 mn for the same period last year.
Commenting on the results, Kavinder Singh, Managing Director & Chief Executive Officer, Mahindra Holidays & Resorts India Limited said, "Our sustained focus on improvement in member quality continues with higher upfront payments, reduced tenure of instalments and improved collections. Resort occupancies were at 85% and resort revenues grew by 8% (YOY) aided by new and unique family leisure experiences. Our cash position has improved significantly and stands at Rs 411 Cr, up 117% YoY."
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 December 31, 2017, MHRIL has ~229K vacation ownership members and operates 53 resorts across India and abroad and its subsidiary, Holiday Club Resorts Oy, Finland, a leading vacation ownership company in Europe has ~ 50K members and 33 resorts across Finland, Sweden and Spain.
Mahindra Holidays has been awarded as 'India's Favourite Resort Chain’ by HolidayIQ and has also received the prestigious Golden Peacock Award for Sustainability 2017. Visit us at www.clubmahindra.com
The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, speedboats, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 240,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com
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Tel: +91 22 2490 5943
Chief Investor Relations Officer
Mahindra Holidays & Resorts India Limited
Phone: +91 22 3368 4703
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