Chennai, November 2 (SocialNews.XYZ) Mahindra Holidays & Resorts India Ltd, a major in timeshare resorts, closed the second quarter of FY23 with lower net profit on higher revenue.
According to the company, for Q2FY23, it recorded a profit of around Rs 30.90 crore (Q2FY22 profit of around Rs 40.55 crore) on an operating income of around Rs 283.60 crore (Rs 237.66 crore ).
The company’s total expenditure for the reporting period increased by approximately Rs 49.75 crore in Q2FY23 compared to the same period a year earlier.
The company’s board of directors which met on Wednesday also decided to move the head office from Tamil Nadu to Maharashtra and amend the memorandum of association subject to shareholder and central government approval.
The certificate of the company after opening at Rs 286.15 went down and changed hands at around Rs 279 per share.
Source: IANS
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