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Published on 29/10/2020 5:36:29 PM | Source: Dion Global Solutions Ltd

Mahindra Holidays Q2 net profit jumps 88.55% at Rs 33.75 cr

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The company reported standalone net profit of Rs 33.75 crore for the quarter ended September 30, 2020 as compared to Rs 17.90 crore in the same period last year, registering a year-on-year growth of 88.55 per cent. Net revenue of the company declined substantially by 20.45 per cent at Rs 185.79 crore in July-September quarter of this fiscal as against Rs 233.54 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 29.06 per cent to Rs 137.22 crore from Rs 193.42 crore in year ago period. Other Income grew by 61.13 per cent at Rs 25.91 crore versus (Sep'19 Rs 16.08 crore).

Operating Profit surged by 21.06 per cent to Rs 48.57 crore as against Rs 40.12 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 52.15 per cent in September quarter. Interest declined by 15.62 per cent y-o-y to Rs 3.35 crore, while Taxation increased by 22.40 per cent at Rs 12.02 crore (Sep'19 Rs 9.82 crore).