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Last Updated : May 16, 2019 09:39 AM IST

Mahindra Holidays falls 3% after net profit drops 62%

The revenue of the company fell to Rs 252.13 crore in the March quarter, against Rs 305.99 crore in the year-ago period.

Moneycontrol News @moneycontrolcom

Shares of Mahindra Holidays and Resorts India fell nearly 3 percent intraday on May 16 after the hospitality company reported a 62.6 percent YoY slump in net profit in the fourth quarter ended March 31.

The company in its BSE filing said its standalone Q4 profit after tax (PAT) stood at Rs 14.42 crore, compared to Rs 38.55 crore in the same quarter a year ago.

The revenue of the company fell to Rs 252.13 crore in the March quarter, against Rs 305.99 crore in the year-ago period.

The company said year-on-year comparison is not available due to transition to new accounting standard Ind AS 115 effective April 1, 2018.
 Commenting on the performance, MHRIL Managing Director and CEO Kavinder Singh said: "Our focus on adding new destinations has increased our resort count to 61. Improved customer experience has helped us achieve healthy occupancy of 82.9 percent at our resorts."

At 0936 hrs, Mahindra Holidays and Resorts India was quoting Rs 200, down 2.98 percent on the BSE.

First Published on May 16, 2019 09:39 am
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