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Mahindra Holidays Q2FY15 total income up 5% QoQ

India Blooms News Service | | 30 Oct 2014, 09:33 pm
Mumbai, Oct 30 (IBNS): Leisure hospitality provider Mahindra Holidays & Resorts India Limited (MHRIL), on Thursday announced its financial results for the quarter ended September 30 where it reported it total income at Rs. 200 Crore, up 5% QoQ.

The company's EBITDA stood at Rs. 54.72 Crore, up 20% QoQ.

The Profit after Tax (PAT) for the quarter was Rs. 24.71 Crore; up 21% QoQ.

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 the company.

On a like-to-like basis, the EBITDA & 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, as per details attached.

Commenting on the second quarter results, Arun Nanda, Chairman, MHRIL said, “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. Toward that end, we expect to shore up our 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.”

Vasant Krishnan, Chief Financial Officer, MHRIL, said “We are beginning to see some positive impact of cost rationalization measures and strengthening of the financial and acquisition processes and we expect this momentum to continue.”