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Mahindra Holiday & Resorts posts lower net in Q2 shares down

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Timeshare resort major Mahindra Holidays & Resorts India Ltd ended the second quarter of FY23 with lower net income on higher income.



According to the company, for Q2FY23, it posted a profit of about Rs 30.90 crore (Q2FY22 profit of about Rs 40.55 crore) on an operating revenue of about Rs 283.60 crore (Rs 237.66 crore).

The company’s total expenses for the reporting period increased by about Rs 49.75 crore during Q2FY23 compared to the same period last year.

The board of directors of the company, which met on Wednesday, also decided to transfer the registered office of Tamil Nadu until Maharashtra and the amendment of the Memorandum of association subject to shareholder and central government approval.

The price of the company after opening at Rs 286.15 fell and changed hands at around Rs 279 per share.

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