New Delhi: Mahindra Holidays & Resort India Ltd (MHRIL) recorded a 46.4 per cent drop in combined post-tax earnings to Rs 11.48 crore for the September quarter FY25 due to negative impacts from foreign currency fluctuations. MHRIL stated in a regulatory filing that the company had recorded a profit after tax (PAT) of Rs 21.43 crore in the previous year. It was mentioned that revenue generated in the second quarter was Rs 670.75 crore, compared to Rs 655.27 crore in the previous year.
Expenses in the current quarter rose to Rs 677.36 crore from Rs 636.33 crore in the same quarter last year. "We experienced a negative effect from foreign exchange on a loan used to purchase our European subsidiary." "Excluding the forex impact, our Profit After Tax (PAT) stands at Rs 27 crore, showing a 36 pc year-on-year growth," said MHRIL's Managing Director and CEO Manoj Bhat during an interview with PTI. While demand stayed high during the quarter, the company experienced a decrease in "room nights due to weather conditions in Himachal Pradesh, Gujarat, Kerala, and Sikkim", he explained.
In alignment with the company's goal of reaching 10,000 keys by FY30, MHRIL increased the number of keys by 219 in the second quarter, as stated by Bhat. Three managed resorts have been included in our portfolio in Bharatpur (Rajasthan), Pavagadh (Gujarat) and Mysuru (Karnataka). He stated that our emphasis on premium products remains strong, resulting in increased sales revenue. Bhat stated that HCR (Holiday Club Resorts) showed better operating results in their European operations. Nevertheless, the macroeconomic environment still affects the overall performance.
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