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.
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