Mahindra Holidays Q2 net dips 3.5% to Rs 32 crore

Mahindra Holidays & Resorts India on Wednesday reported a 3.5 percent dip in standalone net profit to Rs 31.70 crore for the second quarter ended September 30, 2017.

The company posted a net profit of Rs 32.86 crore for the corresponding period of the previous fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a filing to BSE.

Standalone total income of the company stood at Rs 251.98 crore for the quarter under consideration. It was Rs 261.45 crore for the same period a year ago.

"We continue to strengthen our customer acquisition processes which have impacted our member additions in the short term," MHRIL MD & CEO Kavinder Singh said.

Shares of MHRIL on Wednesday closed at Rs 376.95 per scrip on BSE, percent from the previous close.