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Company's total income rose to Rs 186.16 crore from Rs 180.29 crore.
Arun K Nanda, Chairman, MHRIL said that the lower number of members acquired in the quarter is on account of certain streamlining initiatives that have been undertaken in the area of member acquisition.
"In the second quarter a major initiative of the Happy Family Referral Program was launched. This should improve member acquisition and at lower costs of acquisition."
Vasant Krishnan, Chief Financial Officer, MHRIL, said "the Company has undertaken a rigorous review of its processes and cost structures. These are ongoing and should start to yield results going forward."
During the quarter the company acquired 100 per cent equity share capital of Competent Hotels Pvt LTd, which got a property consisting of 60 rooms in Manali and also signed a share sale and purchase agreement to acquire 18.8 stake in Holiday Club Resorts Oy Finland.
