Mahindra Holidays & Resorts consolidated PAT jumps to Rs 56.31 crore in March quarter

MAHINDRA HOLIDAYS

Mahindra Holidays & Resorts India Ltd on Tuesday reported over three-and-half fold rise in consolidated profit after tax at Rs 56.31 crore in the fourth quarter ended March 31, 2023 driven by robust revenue growth.

The company had posted a consolidated profit after tax of Rs 15.87 crore in the same previous fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.

Revenue from operations during the quarter under review stood at Rs 711.61 crore, as against Rs 542.58 crore in the year-ago period, it added.

Total expenditure in the fourth quarter stood at Rs 658.24 crore, as against Rs 551.03 crore in the same period a year ago, the company said.

For the fiscal ended March 31, 2023, consolidated profit after tax stood at Rs 113.82 crore, as compared to Rs 67.64 crore in the previous year, the company said.

Consolidated revenue from operations in FY23 stood at Rs 2,516.99 crore, as compared to Rs 2,013.29 crore in FY22, it added.

MHRIL Managing Director and Chief Executive Officer Kavinder Singh said the company achieved exceptional FY23 results with new milestones in total income, resort income, EBITDA and profit before tax.

On the company's European operations, he said despite macroeconomic challenges created by the geopolitical conflict, Holiday Club Resorts (HCR), the European subsidiary, has turned around.