Mahindra Holidays Q1 PAT Soars to Rs 6.08 Crore
By Rediff Money Desk, New Delhi Jul 25, 2024 16:51
Mahindra Holidays & Resorts India Ltd reported a significant jump in consolidated profit after tax to Rs 6.08 crore in Q1 FY24, driven by increased membership and occupancy.
![Mahindra Holidays Q1 PAT Soars to Rs 6.08 Crore](https://im.rediff.com/money/2020/sep/28mahindra-holidays.jpg)
New Delhi, Jul 25 (PTI) Mahindra Holidays & Resorts India Ltd on Thursday reported a multi-fold increase in consolidated profit after tax at Rs 6.08 crore in the first quarter ended June 30, 2024.
The company had posted a consolidated profit after tax of Rs 89.05 lakh in the same quarter last fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.
Consolidated revenue from operations in the first quarter stood at Rs 652.86 crore as against Rs 614.31 crore in the year-ago period.
Total expenses were higher at Rs 671.45 crore as compared to Rs 643.23 crore in the corresponding period last fiscal.
"It has been a robust quarter on multiple parameters. We have added new members at higher realisation and now have 3 lakh plus members. We delivered 90 per cent occupancy while being on track in terms of inventory expansion," MHRIL Managing Director and CEO Manoj Bhat said.
On the European operations, he said Holiday Club Resorts (HCR), the company's subsidiary, has delivered a stable performance despite the adverse macroeconomic situation.
"We continue to focus on improving operating metrics," Bhat added.
The company had posted a consolidated profit after tax of Rs 89.05 lakh in the same quarter last fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.
Consolidated revenue from operations in the first quarter stood at Rs 652.86 crore as against Rs 614.31 crore in the year-ago period.
Total expenses were higher at Rs 671.45 crore as compared to Rs 643.23 crore in the corresponding period last fiscal.
"It has been a robust quarter on multiple parameters. We have added new members at higher realisation and now have 3 lakh plus members. We delivered 90 per cent occupancy while being on track in terms of inventory expansion," MHRIL Managing Director and CEO Manoj Bhat said.
On the European operations, he said Holiday Club Resorts (HCR), the company's subsidiary, has delivered a stable performance despite the adverse macroeconomic situation.
"We continue to focus on improving operating metrics," Bhat added.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 3.03 ( -4.72)
- 257562976
- Vodafone Idea L
- 15.98 (+ 5.13)
- 59384877
- Khoobsurat
- 1.87 (+ 4.47)
- 53564105
- Srestha Finvest
- 2.41 ( -1.23)
- 34967793
- NCL Research
- 1.01 ( -1.94)
- 27741245
MORE NEWS
![Aditya Birla...](https://im.rediff.com/80-80/money/2023/mar/10aditya-birla1.jpg)
Aditya Birla Group Targets USD 25 Billion...
Aditya Birla Group aims to reach USD 25 billion in consumer business revenue in the...
![Sebi Confirms...](https://im.rediff.com/80-80/money/2024/jul/02july-sebi.jpg)
Sebi Confirms Order Against 12 in V Marc India...
Sebi confirms its order against 12 entities, including V Marc India's promoter, for a...
![PM GatiShakti...](https://im.rediff.com/80-80/money/2023/jan/30infrastructure.jpg)
PM GatiShakti Evaluates 5 Infra Projects: Road,...
Network Planning Group (NPG) has evaluated 5 infrastructure projects, including road...