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Mahindra Holidays posts lower quarterly profit amid higher costs and forex impact

#Hospitality & Retail#India
Last Updated : 29th Apr, 2026
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Synopsis

Mahindra Holidays & Resorts India Ltd reported a 43% decline in consolidated profit after tax to INR 41.49 crore in the fourth quarter of the financial year ending FY26, compared with INR 72.94 crore in the same period last year. The drop was mainly due to impairment charges, implementation of new labour codes and foreign exchange movement. Revenue from operations increased to INR 820.29 crore from INR 778.83 crore, while expenses also rose. For FY26, annual profit stood at INR 67 crore. The company noted steady growth in India operations, strong resort performance and expansion, while international business remained under pressure.

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Mahindra Holidays & Resorts India Ltd reported a 43% decline in consolidated profit after tax to INR 41.49 crore in the fourth quarter of the financial year ending FY26, compared with INR 72.94 crore in the same period of the previous year. The decline in profitability was linked to impairment charges, the impact of new labour code implementation, and foreign exchange movement.


Revenue from operations during the quarter increased to INR 820.29 crore from INR 778.83 crore a year earlier. At the same time, total expenses rose to INR 778.65 crore compared with INR 704.7 crore in the corresponding period of the previous fiscal, reflecting higher operational costs.

For the full financial year FY26, the company reported consolidated profit after tax of INR 67 crore, lower than INR 125.95 crore in the previous year. Annual revenue from operations stood at INR 2,991.74 crore compared with INR 2,780.85 crore in FY25.

The management stated that in its India business, execution of the growth strategy continued across multiple areas. It highlighted expansion of its resort network, with several new managed properties added during the year. Resort revenue continued to show double-digit growth, while utilisation levels remained above 80%, indicating stable occupancy performance.

The company also noted progress in its premiumisation strategy. According to management, the response to its new product KEYSTONE supported higher upgrades and improved average unit sales realisation during the quarter.

On international operations, the company said performance remained under pressure due to geopolitical challenges, a slowdown in the Finnish economy, and adverse weather conditions. It also stated that one-time impacts during FY26 included effects from labour code implementation in India and forex losses linked to depreciation of the rupee in overseas operations.

The management further indicated that improving performance in international markets remains a key focus area in the coming quarters.

Source PTI
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