Mahindra Holidays & Resorts India Limited Reports Audited Standalone Earnings Results for the Fourth Quarter and Year Ended March 31, 2018 and Consolidated Earnings Results for the Year Ended March 31, 2018; Provides Capital Expenditure Guidance for Fiscal 2019
May 08, 2018 at 08:19 am
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Mahindra Holidays & Resorts India Limited reported audited standalone earnings results for the fourth quarter and year ended March 31, 2018 and consolidated earnings results for the year ended March 31, 2018. For the quarter, on a standalone basis, the company reported revenue from operations of INR 2,961.477 million compared to INR 3,036.711 million a year ago. Profit before share of profit of joint ventures and associates was INR 594.312 million compared to INR 496.035 million a year ago. Profit after tax for the period was INR 385.565 million compared to INR 318.207 million a year ago. Diluted earnings per share were INR 2.90 compared to INR 2.43 a year ago. Profit before tax was INR 594.312 million compared to INR 496.035 million a year ago. The company reported it has added 6,321 new members this quarter. This is an increase of about 2.3% year on year and on quarter of qyuarter or sequential growth of about 50.7%. Resort occupancies were at a healthy 85%. Resort revenues grew by 9.9%. Coupled with improvement in operational metrics and cost management actions, it had seen a growth of 21% in profit after tax.
For the full year, on a standalone basis, the company reported revenue from operations of INR 10,641.857 million compared to INR 10,731.848 million a year ago. Profit before share of profit of joint ventures and associates was INR 2,071.532 million compared to INR 2,009.446 million a year ago. Profit after tax for the period was INR 1,343.587 million compared to INR 1,306.520 million a year ago. Diluted earnings per share were INR 10.10 compared to INR 9.85 a year ago. Profit before tax was INR 2,071.532 million compared to INR 2,009.446 million a year ago.
For the full year, on a consolidated basis, the company reported revenue from operations of INR 23,169.220 million compared to INR 22,666.116 million a year ago. Profit before share of profit of joint ventures and associates was INR 2,167.630 million compared to INR 2,240.741 million a year ago. Profit after tax for the period was INR 1,327.704 million compared to INR 1,455.525 million a year ago. Diluted earnings per share were INR 9.95 compared to INR 11.20 a year ago. Profit before tax was INR 2,165.725 million compared to INR 2,241.236 million a year ago.
For fiscal 2019, the company expects, capital expenditure of INR 5,000 million.
Mahindra Holidays & Resorts India Limited operates in the leisure hospitality industry. The Company is engaged in the business of the sale of vacation ownership and other related services in India. It also provides holiday facilities. Club Mahindra is the Company's product in the vacation ownership business, which entitles its members to a week's holiday every year. It has resorts across India and abroad. The Company offers Club Mahindra members access to over 143 resorts in India, Asia, Europe and the United States. Its resorts in India, such as Goa, Gujarat, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Puducherry, Rajasthan, Sikkim and others. Its subsidiaries include Holiday Club Resorts Oy, Holiday Club Sweden A, Ownership Services Sweden Ab, Holiday Club Sport and Spa Hotels AB and others. Holiday Club Resorts Oy is a vacation ownership company in Europe that has approximately 33 resorts across Finland, Sweden and Spain.
Mahindra Holidays & Resorts India Limited Reports Audited Standalone Earnings Results for the Fourth Quarter and Year Ended March 31, 2018 and Consolidated Earnings Results for the Year Ended March 31, 2018; Provides Capital Expenditure Guidance for Fiscal 2019