Mahindra Holidays & Resorts India Limited (MHRIL) registered a 21 per cent increase in its net profit for the quarter ended September 30, 2014 compared to the corresponding period last year. Total income was up 5 per cent to Rs 200 crore and EBITDA was up by 20 per cent at Rs. 54.72 crore for the quarter.
The results of the quarter incorporate an additional charge on account of depreciation (consequent to change of rules) and consolidation of the results of Bell Tower Resorts Private Limited, post its merger with MHRIL. On a like-to-like basis, the EBITDA and PBT for the quarter stood at Rs. 59 crore and Rs. 48.55 crore, up from Rs. 52.44 crore and Rs. 43.23 crore, respectively in the same quarter last year.
“The transition from traditional avenues of customer acquisition to newer ones like digital is delivering encouraging results.The focus on customer satisfaction remains our top priority – we believe that the most effective way of growing this business is with a happy customer base,” Arun Nanda, Chairman, MHRIL, said and added that the company expects to shore up its inventory significantly across properties in this financial year. “Among others, inventory in key properties that will be delivered over the second half include Virajpet, Kanha, Munnar and Udaipur, besides acquisition of new properties under consideration,” he revealed.
