Mahindra reveals third quarter results
Leading Indian leisure hospitality provider Mahindra Holidays & Resorts India Limited (MHRIL) has announced its standalone financial results for the third quarter of fiscal 2018.
The company, which has a number of resorts affiliated to RCI through its flagship Club Mahindra brand, reported relatively stable figures for income, profit and membership.
Q3 FY’18 Financial Highlights – Standalone
- Member Additions at 4194; lower by 5.5% YoY; higher by 13.2% sequentially
- Total Income at Rs. 272.5 crs; lower by 0.8% YoY
- Profit After Tax at Rs. 31.7 crs; lower by 11.1% YoY
YTD Dec’17 Financial Highlights – Standalone
- Member Additions at 11904; lower by 3.8% YoY
- Cumulative Member Base at 229,643; up by 8.3% YoY
- Total Income at Rs. 801.2 crs; up by 1.4% YoY
- Profit After Tax at Rs. 95.8 crs; lower by 3.1% YoY
Q3 FY 18 Financial Performance
On a standalone basis Mahindra’s Q3 FY’18 performance showed a total Income of Rs.272.5 crs compared to Rs. 274.8 crs last year and profit after tax at Rs. 31.7 crs compared to Rs. 35.7 crs last year.
YTD Dec 17 Financial Performance
On a standalone basis Mahindra’s YTD Dec’17 performance revealed total Income of Rs.801.2 crs compared to Rs. 790.2 crs last year, a growth of 1.4% and profit after tax at Rs. 95.8 crs compared to Rs. 98.8 crs last year.
The company’s material subsidiary, Holiday Club Resorts Oy, Finland (HCR), in which it holds 95.16 per cent, recorded a turnover of Euro 120.52 mn (Rs. 894.2 crs.) for the nine months period ended December 31, 2017, as against Euro 116.18 mn (Rs. 862.0 crs) for the same period last year, a constant currency growth of 3.7%.
The profit after tax of HCR (unaudited) for this period stands at Euro 3.8 mn, as against a loss of Euro 0.04 mn for the same period last year.
Kavinder Singh, managing director and CEO of Mahindra Holidays & Resorts India Limited, said: “Our sustained focus on improvement in member quality continues with higher upfront payments, reduced tenure of instalments and improved collections.
“Resort occupancies were at 85% and resort revenues grew by 8% (YOY) aided by new and unique family leisure experiences. Our cash position has improved significantly and stands at Rs 411 Cr, up 117% YoY.”