Mahindra Holidays & Resorts India Ltd on Monday reported a 43 per cent decline in consolidated profit after tax to ₹41.49 crore in the fourth quarter ended on March 31, 2026, impacted by outgo on impairment charges, new labour code and forex movement.

The company had posted a consolidated profit after tax (PAT) of ₹72.94 crore in the same quarter of 2024-25, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.

Revenue from operations in the fourth quarter stood at ₹820.29 crore as against ₹778.83 crore in the year-ago period, it added.

Total expenses in the fourth quarter were higher at ₹778.65 crore as compared to ₹704.7 crore in the corresponding period of the previous fiscal, the company said.

In the fiscal year ending March 31, 2026, consolidated PAT stood at ₹67 crore as against ₹125.95 crore in the previous year, MHRIL said.

Consolidated revenue from operations in FY26 stood at ₹2,991.74 crore as against ₹2,780.85 crore in FY25, the company added.

Commenting on the performance, MHRIL MD and CEO Manoj Bhat said, “In our India business, we continued to execute on all aspects of our growth strategy. Network expansion with enhanced quality accelerated with several new managed resort additions during the year."

Resort revenue continued its double-digit growth trajectory while utilisation sustained at over 80 per cent levels, he added.

On the company's premiumisation journey, he said, "Strong reception of our new product KEYSTONE has led to robust growth in upgrades, combined with higher average unit sales realisation this quarter." Bhat said the company's international operations continued to be impacted by geopolitical headwinds, a slowdown in the Finnish economy and adverse weather conditions during the year.

"In FY26, we also saw one-time impacts due to the labour code implementation in India and forex loss due to the depreciation of the rupee in our international operations," he added.

The management team is focused on improving the operating performance of the international operations in the coming quarters, Bhat said.

Published on April 27, 2026