Mahindra Holidays & Resorts Q2 PAT increases 88.5% yoy to Rs33.8cr

The company’s standalone income for Q2FY21 fell to Rs211.7cr from Rs249.6cr in Q2FY20.

Oct 29, 2020 04:10 IST India Infoline News Service

Mahindra Holidays & Resorts India Limited on Thursday reported total standalone income for Q2FY21 at Rs211.7cr as compared to Rs249.6cr in Q2FY20. It included the Resort Income of Rs6.7cr as compared to Rs44.1cr in Q2 FY20.

Profit before Tax of the company for Q2FY21 is Rs45.8cr as compared to Rs27.7cr in Q2FY20. Profit after Tax for Q2FY21 is Rs33.8cr, an increase of 88.5% yoy as compared to Rs17.9cr in Q2FY20.

The Total Income for H1FY21 of the company is Rs408.2cr as compared to Rs514.4cr in H1FY20. It included Resort Income of Rs6.7cr as compared to Rs112.9cr in H1FY20.

Profit before Tax for H1FY21 is Rs82.1cr as compared to Rs56.2cr in H1FY20. Profit after Tax for H1FY21 is Rs60.5cr as compared to Rs36.1cr in H1FY20.

“It is indeed a matter of great satisfaction that, our resilient business model along with effective cost control measures has stood the test of extremely trying times, while delivering significant improvement in margins and growth in Profit After Tax of 88.5% yoy. Our cash position remains strong at Rs791cr,” Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Limited, said.

Further, commenting on European operations he added: “Our European subsidiary, Holiday Club Resorts’ operations have started from mid-June. Improved domestic travel and onset of holiday season along with strong execution capabilities helped in delivering higher occupancies and timeshare sales. Further, effective cost control measures have helped in achieving positive PBT in Q2 FY21.”

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