Mahindra Holidays Reports 20% Increase in Total Income in H1 FY16

By BW Hotelier MAHINDRA HOLIDAYS & Resorts India Limited (MHRIL) has announced its financial results for the quarter ended September 30, 2015. For the second quarter ended September 30, 2015, total income stood at Rs 236.3 crores as against Rs 200.1 crores in Q2 FY15, up 18 per cent year-on-year. Profit after Tax (PAT) for Q2 FY16 stood at Rs 28.9 crores vs Rs 24.7 crores in the year-ago period, an increase of 17 per cent. For the first half of the fiscal (H1FY16), total income stood at Rs 467.2 crores as against Rs 390.7 crores in H1 FY15, a 20 per cent increase year-on-year. Profit after Tax (PAT) stood at Rs 53.9 crores vs Rs 45.1 crores in H1 FY15, up 20 per cent. Commenting on the results, Arun Nanda, Chairman, Mahindra Holidays, (see photo) said, ’A 50 per cent growth in member addition during the quarter despite the current economic environment, is a reflection of the level of customer satisfaction your company has been able to achieve and I believe it augurs well for the future.’ Kavinder Singh, MD and CEO, Mahindra Holidays, said, ’Our successful execution of the strategy to make ’Club Mahindra’ an aspirational brand that provides unique family leisure holidays along with 'lifestyle' experiences, is helping create ’consumer pull’ for our offering. This is reflected in healthy operating metrics such as member additions, referrals and successful alliances. We intend to build on this momentum in the near future.’