Mahindra Holidays & Resorts India Q3 Pat Down 96% At ₹1.4Cr

Mahindra Holidays & Resorts India Ltd on Thursday reported a 96% decline in consolidated profit after tax at ₹1.4crore in the third quarter ended December 31, 2025, mainly on account of a one-time labour code impact.

The company had posted a consolidated profit after tax (PAT) of ₹35.42crore in the corresponding quarter of the last fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.

Consolidated revenue from operations in the third quarter stood at ₹752.7crore, as against ₹678.42crore in the year-ago period, it added.

Total expenses in the quarter under review were higher at ₹760.18crore, as compared to ₹662.69crore in the same period a year ago, the company said.

The company said it incurred an exceptional item outgo of ₹11.06crore in the quarter on account of the new labour codes notified by the government on November 21, 2025.

MHRIL Managing Director and CEO Manoj Bhat said the quarter's growth was led by strong resort revenue growth of 16% year-on-year in its India business.

“Membership upgrades continued their strong momentum, achieving double-digit growth over the year. In line with our inventory expansion strategy, we added three new resorts during the quarter and added 273 rooms to our inventory base,” he added.

Bhat further said, “Our India standalone business profits grew 8% despite an exceptional charge on account of the labour code changes.” He said the company's European operations, HCRO, have been impacted by economic headwinds and adverse weather conditions in Finland, which have negatively affected consolidated profitability.

“We continue to pursue our strategy of scaling the core and building the new,” Bhat added