BackMahindra Holidays & Resorts India Q1 net down 2.8%
Firm reported a stand-alone net profit to `20.42 crore for the quarter as compared with `21.01 crore
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New Delhi: Mahindra Holidays & Resorts India Ltd (MHRIL) on Monday reported a 2.8% dip in stand-alone net profit to ₹ 20.42 crore for the quarter ended 30 June.
The company had posted a net profit of ₹ 21.01 crore for the corresponding period of the previous fiscal, MHRIL said in a filing to BSE. Stand-alone total income of the company, however, rose to ₹ 186.16 crore for the quarter under consideration as against ₹ 180.29 crore for the same period year ago.
“With effect from 1 April 2014, the basis of charging depreciation has been changed as per Schedule II to the Companies Act 2013. Consequently, the depreciation for the quarter is higher by ₹ 5.32 crore," MHRIL said in a statement.
Shares of Mahindra Holidays & Resorts India on Monday closed at ₹ 300 per scrip on BSE, up 0.05% from previous close.
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