Mahindra Holiday & Resorts reports weak results
Mahindra Holidays & Resorts India's standalone revenue for the quarter came in at Rs. 267.54 crore, registering 1.1 per cent yoy decline.
The company's Member addition during the quarter was lower by 5.5 per cent at 4,194. EBITDA for the quarter fell by 13 per cent yoy to Rs. 57.8 crore with a corresponding margin contraction of 294 bps. EBITDA margin for the quarter stood at 21.6 per cent. This margin contraction was led by rise in employee cost in proportionate to sales.
The PAT for the quarter came in at Rs. 31.75 crore, which is yoy decline of 11.1 per cent.
Besides, Holiday Club Resort, Mahindra Holiday’s subsidiary in Finland witnessed turnaround and recorded PAT of Euro 3.8 million for the nine months period ended December 31, 2017.
It seems that investors are not happy with these numbers as the stock of Mahindra Holiday tanked more than 5 per cent post announcement of the quarterly result. The stock close for the day at Rs. 329.25 per share, which is close to the day’s low of Rs. 329.