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Mahindra Holidays shares down over 2% post subdued earnings

The stock ended 2.39% lower at Rs 246.90 on the BSE. During the day, it lost 3.34% to Rs 244.50.

Mumbai: Shares of Mahindra Holidays & Resorts India Ltd (MHRIL) on Tuesday fell over 2 percent after the company's fourth quarter earnings failed to meet market expectations.

The stock ended 2.39 percent lower at Rs 246.90 on the BSE. During the day, it lost 3.34 percent to Rs 244.50.

At the NSE, it slipped 2.34 percent to settle at Rs 245.90.

Mahindra Holidays today reported a standalone net profit of Rs 10.42 crore for the fourth quarter ended March 31, 2015.

The Mahindra & Mahindra group firm had posted a net profit of Rs 24.38 crore during the January-March quarter of 2013-14.

The company said the figures are not comparable due to the merger of its wholly-owned subsidiary Bell Towers Resorts.

Its total income from operations during the quarter under review stood at Rs 203.92 crore as against Rs 218.62 crore in the year-ago period.

In a separate filing, the Board of Directors also recommended a dividend of Rs 4 per share.

For the full fiscal 2014-15, MHRIL's net profit was recorded at Rs 79.02 crore as against Rs 94.53 crore a year ago.

In the broader market, the BSE benchmark Sensex ended 41.77 points lower at 27,645.53.