Mahindra Holidays FY25: Revenue ₹2,910 cr, profit ₹128 cr

Key takeaways from FY25 and Q4 FY25

Mahindra Holidays and Resorts India (MHRIL) reported FY25 revenue of ₹2,909.81 crore, up 2.4% year-on-year (YoY). Net profit for the full year stood at ₹127.59 crore, a 9.7% YoY increase.

The March quarter (Q4 FY25) told a different story. Revenue from operations for the quarter came in at ₹778.83 crore, down 2.7% YoY, while net profit fell 11.4% YoY to about ₹73 crore. The quarter’s profitability pressure came even as operating metrics improved, with higher EBITDA and a stronger margin.

FY25 financial performance in numbers

The FY25 top line growth was modest, but full-year profit improved. The article data also includes consolidated profit figures after minority interest (MI) and associates for multiple years, showing a rise in FY25 compared with FY24.

For FY25, consolidated profit/loss after MI and associates was ₹127.59 crore. The comparable FY24 number in the provided table is ₹115.52 crore, and FY23 was ₹115.12 crore. The longer history in the same table shows ₹67.51 crore in FY22 and a loss of ₹13.08 crore in FY21.

Q4 FY25: revenue slipped, profit declined

For the quarter ended March 31, 2025, MHRIL reported an 11.4% YoY decline in net profit to about ₹73 crore, compared with ₹82.3 crore in Q4 FY24. Revenue from operations declined 2.7% YoY to ₹778.8 crore from ₹800.2 crore.

The numbers point to a softer quarter on the top line and the bottom line. But the company’s operating performance improved on certain measures. The same dataset highlights that EBITDA rose 8.9% YoY to ₹204.4 crore in Q4 FY25 from ₹187.7 crore in Q4 FY24.

EBITDA margin improved to 26.3%

EBITDA margin increased to 26.3% in Q4 FY25 from 23.5% in Q4 FY24, according to the figures provided. This margin expansion, alongside the YoY increase in EBITDA, indicates better operating efficiency during the quarter.

However, despite the stronger EBITDA outcome, reported net profit for the quarter still fell YoY. The article text frames this as a “complex picture” where profitability declined even as operational metrics strengthened.

Consolidated vs standalone: what the tables show

The dataset includes a standalone financial table (under Indian Accounting Standards) with Q4 and full-year metrics. In that standalone table, Q4 FY25 total income was ₹398.0 crore versus ₹374.7 crore in Q4 FY24 (6% YoY). Standalone Q4 FY25 EBITDA was ₹131.7 crore versus ₹93.1 crore (41% YoY), PBT was ₹75.8 crore versus ₹44.3 crore (71% YoY), and PAT was ₹57.4 crore versus ₹33.3 crore (72% YoY).

For the full year in the standalone table, FY25 total income was ₹1,544.9 crore versus ₹1,434.1 crore (8% YoY). FY25 standalone EBITDA was ₹491.8 crore versus ₹415.6 crore (18% YoY), PBT was ₹269.6 crore versus ₹223.2 crore (21% YoY), and PAT was ₹200.5 crore versus ₹180.6 crore (11% YoY).

The same table also presents another “Total Income” line showing Q4 FY25 at ₹807.1 crore versus ₹830.3 crore (down 3% YoY) and FY25 at ₹2,909.8 crore versus ₹2,819.6 crore (up 3% YoY). This sits alongside the separate “revenue from operations” number of ₹778.8 crore for Q4 FY25, indicating different line items (total income vs revenue from operations) within the broader results pack.

Another quarterly snapshot: sharp QoQ profit swing

The article data also includes a separate financial snapshot stating revenue at ₹701.40 crore, a quarter-on-quarter (QoQ) decrease of 9.94% from ₹778.83 crore, and a YoY growth of 7.43%. In the same snapshot, operating profit is shown at ₹77.48 crore (up 16.14% QoQ from ₹66.71 crore) and PBDT at ₹114.76 crore (down 5.41% QoQ from ₹121.33 crore).

It also lists profit before tax (PBT) at ₹26.29 crore, down 74.33% QoQ from ₹102.41 crore, and net profit at ₹7.87 crore, down 89.23% QoQ from ₹73.08 crore. The snapshot further states that this net profit represents a 33.62% YoY growth for the same year. Since the period for this snapshot is not specified in the provided text, the figures are best read as an additional reported quarter in the same results dataset rather than as a replacement for Q4 FY25.

Cash position as of March 31, 2025

The company’s cash position is stated at ₹1,555 crore as on March 31, 2025. For investors, cash levels are a key balance sheet indicator, particularly for consumer-facing businesses where demand cycles and marketing spends can affect quarterly performance.

Summary table: FY25 and Q4 FY25 highlights

Why this set of numbers matters

The FY25 print shows steady growth in consolidated revenue and a stronger full-year profit outcome. At the same time, Q4 FY25 reflects a softer quarter on revenue and net profit, while operating performance improved through higher EBITDA and margin expansion.

For readers tracking the company ahead of upcoming fiscal-year results, the data underlines a key theme: headline profit can move differently from operational profitability in the same quarter. The provided tables also show that results presentation can vary between “revenue from operations” and “total income,” and between consolidated and standalone disclosures.

Conclusion

Mahindra Holidays closed FY25 with revenue of ₹2,909.81 crore and net profit of ₹127.59 crore, while Q4 FY25 saw lower revenue and net profit despite improved EBITDA margins. The company also reported a cash position of ₹1,555 crore as of March 31, 2025. Investors will likely track how these operating improvements and quarterly swings translate into subsequent reported periods.