Leisure and hospitality provider Mahindra Holidays & Resorts India (MHRIL) announced its consolidated and standalone financial results for the quarter ended and year ended March 31, 2016
Leisure and hospitality provider Mahindra Holidays & Resorts India (MHRIL) announced its consolidated and standalone financial results for the quarter ended and year ended March 31, 2016.
For the quarter ended March 31, 2016, the company’s total income at stood at ₹ 254.3 crores, 23 per cent higher than ₹ 207.2 crores in Q4 FY 15. Profit after tax (PAT) for Q4 FY 16 at ₹ 32.09 crores was 29 per cent higher than ₹ 24.8 crores (before exceptional items) in Q4 FY 15.
For the year ended 31st March, 2016, the company’s total income stood at ₹ 962.6 crores, 19 per cnt higher than ₹ 807.5 crores for the previous year. PAT for FY 16 at ₹ 117.3 crores was 49 per cent higher than ₹ 79.0 crores in FY 15.
For the year ended 31st March, 2016, the MHRIL’s total income was ₹ 1603.8 crores and PAT was ₹ 99 crores.
During the year, the company increased its shareholding in Holiday Club Resorts Oy (HCR), Finland, from 23.3 per cent to 85.61 per cent. Despite the current situation in Europe, HCR has earned a profit of 3.2 million Euros in the seven months ending March 31, 2016, since it became a subsidiary of the company on September 2, 2015.
Now the company, along with its subsidiary HCR, has 75 resorts across India, Thailand, Malaysia, Austria, Dubai, Finland, Sweden and Spain, which makes it the largest vacation ownership company outside the USA.
Commenting on the results, Arun Nanda, chairman, MHRIL, said, “The relentless efforts put in by the new management team has started yielding results as can be seen in a growth of 26 per cent in member addition, 19 per cent in income and 49 per cent in profit after tax over the previous year. The continued focus on improving member experiences at the company’s resorts should augur well for the future.”
Kavinder Singh, managing director and DEO, MHRIL, commented, “Our deep understanding of family vacationing needs gained over the last 20 years across 45 resorts in India and abroad and a proven track record of delivering memorable leisure experiences has helped us achieve significant growth in member additions through referrals, higher resort income and margin expansion in an otherwise challenging macroeconomic environment.”