MHRIL's Profit Takes a Hit Amid Forex Fluctuations

Mahindra Holidays & Resort India Ltd (MHRIL) reported a 46.4% decline in consolidated profit for the September quarter of FY25, influenced by foreign exchange fluctuations. The company's revenue rose slightly to Rs 670.75 crore, with increased expenditures. Despite challenges, MHRIL added 219 keys and expanded its managed resorts.

Mahindra Holidays & Resort India Ltd (MHRIL) announced a 46.4% drop in its consolidated profit after tax, totaling Rs 11.48 crore for Q2 FY25, primarily due to adverse foreign exchange fluctuations.

Revenue from operations increased marginally to Rs 670.75 crore compared to Rs 655.27 crore in the corresponding period last year, but total expenses also rose to Rs 677.36 crore from Rs 636.33 crore.

Despite strong market demand and expansion efforts, including the addition of three managed resorts and 219 keys, adverse weather impacted bookings, and European operations faced macroeconomic challenges.

(With inputs from agencies.)