Mahindra Holidays Q2: Net profit at Rs 24cr vs Rs 3.3cr loss last year; cash position improves

Mahindra Holidays & Resorts India on November 4 posted a consolidated net profit of Rs 24.42 crore for the September quarter. The company had reported a net loss of Rs 3.34 crore in the July-September period of 2018-19.

Total income during the second quarter rose to Rs 573.83 crore as compared with Rs 532.88 crore in the year-ago period, Mahindra Holidays & Resorts India said in a regulatory filing.

"Our robust business model has helped us deliver improvement in key performance metrics: income growth, profit margin expansion and PAT growth this quarter," Mahindra Holidays & Resorts India MD & CEO Kavinder Singh said.

The company's cash position has improved to Rs 675 crore and this is despite a slowdown in discretionary spends in the economy and relatively lower resort occupancies due to heavy rains/floods in Kerala, Karnataka, Himachal Pradesh and Uttarakhand, he added.