Mahindra Holidays & Resorts Q4 PAT at Rs 14.42 cr

Mahindra Holidays & Resorts India Ltd (MHRIL) Wednesday reported standalone profit after tax (PAT) at Rs 14.42 crore in the fourth quarter ended March 31, 2019.

The company had posted a standalone PAT of Rs 38.55 crore in the same quarter a year ago, MHRIL said in a regulatory filing. Standalone total income in the period under review was at Rs 252.13 crore. It was at Rs 305.99 crore in the year-ago quarter, it added.

The company said year-on-year comparison is not available due to transition to new accounting standard Ind AS 115 effective April 1, 2018.

Commenting on the performance, MHRIL Managing Director and CEO Kavinder Singh said: "Our focus on adding new destinations has increased our resort count to 61. Improved customer experience has helped us achieve healthy occupancy of 82.9% at our resorts."

He further said, "Our focus on acquiring new members with higher down payment, lower EMI tenure and improved receivables management has enabled us to achieve healthy cash balance of Rs 572 crore (vs Rs 469 crore in 2017-18)."

For the fiscal ended March 2019, the company said its consolidated PAT was at Rs 59.57 crore. It was at Rs 132.77 crore in 2017-18.