Mahindra Holidays Reports Increase in Revenue by 21% YoY in Q1 FY16

By BW Hotelier

KavinderM&MMAHINDRA HOLIDAYS & Resorts India Limited (MHRIL) announced its financial results for the quarter ended June 30, 2015. The company reported a total income at Rs 231 crores, an increase of 21 per cent YoY in the first Quarter of FY16. The EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) rose 23 per cent YoY at Rs 56 crores. Profit after Tax was increased 23 per cent YoY at Rs 25 crores. During the quarter, the company opened its second property in Munnar with 51 rooms through a greenfield project.
Commenting on the results, Arun Nanda, Chairman, MHRIL, said, ’I am pleased to see that the efforts of the new team and the systems and processes put in place earlier, have begun yielding results. This, along with our room inventory addition plan and the government’s thrust on tourism infrastructure, augurs well for the future’.
Kavinder Singh, MD & CEO, MHRIL, said, ’Our operating metrics are showing a healthy trend. Additions to our property portfolio are on track. Alongside, member additions are growing at a brisk pace, with 50 per cent increase in Q1 FY16 (YoY). Our referral and digital sales contribution is at 54 per cent (of total sales) indicating growing ’consumer pull’ for our proposition. Our investments in brand building through digital and other media in communicating our core value proposition of delivering 'magical moments' at our 46 exotic resorts in India and abroad to our 186,000 members is beginning to yield results.’

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