Mahindra Holidays & Resorts India announces its results for FY18
Mahindra Holidays & Resorts India (MHRIL), one of India’s leisure hospitality provider announced its standalone and consolidated financial results for the quarter and year ended March 31, 2018 recently.
Q4 FY18 – Standalone Results
For the quarter ended March 31, 2018, total income was at INR 306 crs as compared to INR 309 crs last year and profit after tax was at INR 38.5 crs as compared to INR 31.8 crs last year, a growth of 21.2 per cent.
FY18 – Standalone Results
For the year ended March 31, 2018, total Income was at INR 1094 crs as compared to INR 1090 crs last year and profit after tax was at INR 134.3 crs as compared to INR 130.6 crs last year.
FY18 – Consolidated Results
Consolidated profit after Tax (after NCI) for the period ended March 31, 2018, together with the Other Comprehensive Income (after Tax & NCI) is INR 192.7 crs as compared to INR 116.8 crs in the previous year.
The company’s material subsidiary, Holiday Club Resorts Oy, Finland (HCR), in which the company holds 95.16 per cent, recorded a turnover of EUR 165.5 mn (INR 1249.6 crs.) for the year ended March 31, 2018, as against EUR 161.5 mn (INR 1185.7 crs) for the same period last year.
The profit after tax of HCR for this period stands at EUR 7.37 mn, as against EUR 2.49 mn for the same period last year.
Commenting on the results, Kavinder Singh, managing director & chief executive officer, Mahindra Holidays & Resorts India said, “Our focus on enhancing member delight and repertoire of resorts has helped us improve our resort occupancies and resort revenues. Cost management actions along with improvement in operational metrices has helped improve PBT margin to 19 per cent. Our continued focus on new member additions with higher down payments, lower tenure EMI’s along with higher collections has improved our cash balance to INR 469 Crs (up by INR 205 crs).
Q4 FY’18 Highlights – Standalone
Member additions at 6321; up by 2.3 per cent YoY; higher by 50.7 per cent sequentially
Three resorts and 110 rooms added
FY’18 Highlights – Standalone
Cumulative Member Base at 235,792; up by 8.1 per cent YoY
Six resorts and 320 rooms added, Total room inventory at 3472 in 55 resorts
Total Income at INR 1094 crs; up by 0.3 per centYoY
Profit After Tax at INR 134.3 crs; up by 2.8 per cent YoY
Cash Balance at INR 469 crs; up by INR 205 crs YoY