25 Apr '11, 9am

UPDATE 1-Mahindra Holidays Jan-March net profit up 25 pct

* Q4 net up 25 percent on new member additions * Plans to spend 7-8 bln rupees this FY (Adds details, quotes) MUMBAI , April 25 (Reuters) - Vacation home operator Mahindra Holidays and Resorts posted a net profit of 401.7 million rupees for the quarter ended March, a 25 percent jump from the year ago, and said it will spend up to 8 billion rupees on expansion in FY12. The company, which operates under the flagship brand 'Club Mahindra', posted a 27 percent jump in total operating income to 1.66 billion rupees in the period, it said on Monday. It added 3,418 members during the quarter ended March, it said. Occupancy across resorts went up to around 78 percent for the year ended March from 74 percent last year. Chairman Arun Nanda said the company plans to spend between 7 to 8 billion rupees in the current fiscal to expand its portfolio and take advantage of India's booming ...

Full article: http://sg.news.yahoo.com/mahindra-holidays-jan-march-net-...

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