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Resort Profits Soar 16% Amid Expansion Drive
21 Oct
Summary
- Consolidated net profit grew 16.42% year-on-year to ₹19.71 crore.
- Revenue from operations increased 9.3% to ₹784.13 crore.
- Company plans to add 1,000 keys over next two quarters.
Mahindra Holidays & Resorts India Ltd has reported a robust financial performance for the quarter ending September 30, with its consolidated net profit rising by 16.42% to ₹19.71 crore compared to the previous year. This growth reflects a strong domestic business momentum, evidenced by an increase in membership sales and double-digit growth in resort revenue, alongside improved occupancy rates.
The company is strategically expanding its resort network. During the quarter, two resorts were expanded and two existing properties were transformed. Further enhancements are underway, with five resort transformations in progress. Mahindra Holidays aims to add approximately 1,000 keys within the next two quarters and is progressing towards its target of 10,000 keys by FY30.
Internationally, Holiday Club Resorts Oy maintained a stable performance despite ongoing geopolitical uncertainties and a weakened Finnish economy. Overall, the company's consolidated profit after tax (PAT) demonstrates sustained financial strength. The company's shares closed at ₹200.15 on Wednesday, marking a 1.14% increase.
