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Mahindra Holidays Q1 results: Net loss narrows to Rs 21 crore

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Mahindra Holidays Q1 results: Net loss narrows to Rs 21 crore

New Delhi: Mahindra Holidays & Resorts India on Thursday reported narrowing of its consolidated net loss to Rs 21.38 crore for the quarter ended June 30, 2021. The company had posted a net loss of Rs 32.37 crore for the corresponding period of the previous fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.

Consolidated total income stood at Rs 418.29 crore for the quarter under consideration. It was Rs 325.20 crore for the same period a year ago, it added.

“The Board of Directors announced the issue of bonus shares in the ratio of 1:2, i.e. 1 bonus equity share for each 2 fully paid equity shares held,” MHRIL said.

MHRIL MD and CEO Kavinder Singh said, “Despite the extremely adverse situation caused by the second wave of pandemic, we have delivered a strong performance during the quarter.”

The company’s business model is unique and resilient and it has seen recovery in member additions as the second wave began to recede from mid-June onwards, he added.

Shares of Mahindra Holidays & Resorts India closed at Rs 318.60 per scrip on BSE, up 0.11 percent from its previous close.

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