Mahindra Holidays Q2FY24 result: Profit dips 48% to Rs 21 cr; income up 7%

As compared to Rs 0.89 crore in Q1FY24, the net profit was up 2307.86 per cent

Mahindra Holidays and Resorts India Limited reported a fall of 48.22 per cent in its consolidated net profit in the quarter ended September 30 to Rs 21.43 crore, as compared to Rs 41.39 crore in the same quarter last year. Compared to Rs 0.89 crore in Q1FY24, the net profit was up 2307.86 per cent.

The revenue from operations for Q2FY24 came in at Rs 655.27 crore, compared to Rs 598.36 crore year-on-year (y-o-y). This is a rise of 9.51 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was up 6.66 per cent. It stood at Rs 614.3 crore in Q1FY24.

The total income for Q2FY24 came in at Rs 672.17 crore, compared to Rs 627.16 crore y-o-y, registering a rise of 7.17 per cent. On a q-o-q basis, the total income was up 3,12 per cent. It was Rs 651.82 crore in Q1FY24.

The Mahindra Holidays stock closed at Rs 405 on Monday.