One of the leading vacation ownership companies, Mahindra Holidays, on Tuesday reported quarter four numbers where it clocked a 250 percent growth in consolidated profit which came at Rs 56.4 crore compare to Rs 16.2 crore, same quarter last year. The stock was trading 5 percent higher till 2:32 pm.

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The revenue was seen 31.1 percent higher at Rs 711.6 crore vs Rs 542.6 crore in Q4FY22. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose 87 percent at Rs 164.7 crore vs Rs 87.9 crore, same quarter last year. The EBITDA margin at 23.2 percent vs 16.2 percent on yearly basis.

Commenting on the Q4 results, MD & CEO Kavinder Singh said, "We have achieved exceptional FY23 results with new milestones in Total Income, Resort Income, EBITDA and PBT. Highest ever Membership Upgrades along with higher member spends is a great endorsement of the immersive family vacation experiences that Club Mahindra delivers consistently."

Speaking about European business, the MD & CEO said that despite macroeconomic challenges created by the geopolitical conflict, Holiday Club Resorts (HCR), our European Subsidiary, has turned around as reflected in the Q4 performance driving Revenue growth of Timeshare by 57 percent Year-on-Year and Spa Hotels by 19 percent YoY, along with EBITDA of €6.4 million and PAT of €4.0 million. On a full year basis, HCR has delivered EBITDA of € 5.0 million.

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Mahindra Holidays MD & CEO, Kavinder Singh, while speaking to CNBC TV18, back in February had said that the company is expecting strong results from the Europe Business in Q4. "January occupancy is at 86 percent, momentum continues in Q4," Singh had said at that time.

The CEO had also mentioned that Q4 is seasonally good for member additions while the company is aiming to cross member addition level to over 5,000/quarter.

In December, the company had reported mixed earnings with good performance in the domestic business while losses continue for its European arm. Overall, Mahindra Holidays and Resorts India is in a good position for growth, both in India and Europe. With a focus on adding more inventory and a strong Q4 expected, the company is poised for continued success in the vacation ownership industry.

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