Good day for Mahindra Holidays and Resorts at the markets

Shares of Mahindra Holidays and Resorts India hit a 3-month high after the time share company reported a sharp surge in first quarter earnings.

Mahindra Holidays said its first quarter Net Profit rose 25 percent to 25 crore rupees compared with 20.4 crore rupees in the same quarter a year ago. Sales during April-June gained 22 percent to 227 crore rupees from 186 crore rupees in the year ago period.

Mahindra Holidays rose 5.4 percent, or 15.20 rupees, to 295.50 rupees, the highest since April 10, on the National Stock Exchange, where 2.5 lakh shares were traded compared with the 5-day average of 74,500.

Mahindra Holidays' market capitalisation has remained flat over the past one year to 2,620 crore rupees.

(Image credits: Indiatimes)