New Delhi, July 22: Mahindra Holidays & Resorts India Ltd today reported a consolidated loss after tax at ₹8.56 crore in the June quarter impacted by growth-related costs in domestic business and headwinds from geopolitical uncertainties in international operations.
The company had posted a consolidated profit after tax of ₹7.17 crore in the corresponding quarter last fiscal year, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.
Consolidated revenue from operations during the quarter under review stood at ₹732.81 crore as against ₹701.4 crore in the year-ago period, it added.
Total expenses in the quarter under review were higher at ₹776.48 crore as compared to ₹713.33 crore in the same period last fiscal year, the company said.
“Profitability in our India business was impacted by growth-related costs, while our international operations continued to face headwinds from geopolitical uncertainties and a slowdown in the Finnish economy during the quarter,” MHRIL Managing Director and CEO Manoj Bhat said.
“We remain focused on enhancing the quality of our resort network through the ongoing transformation of existing resorts and the accelerated rationalisation of select properties during the quarter, based on guest feedback and ratings,” he said.
“While certain inventory addition projects were impacted by supply chain disruptions, material availability challenges and labour shortages, Bhat said, adding “We remain on track to add approximately 1,000 keys during the year and have clear visibility towards achieving our target of 10,000 keys by FY30.” (BVI)
