Mahindra Group firm, Mahindra Holidays and Resorts has said that it has recorded a fall of 16.92 per cent in its net profit to Rs. 30.92 crore for the fourth quarter of the 2013 financial year till March.

Mahindra Holidays and Resorts had recorded a net profit of Rs. 37.22 crore during the same quarter of the previous year, it said in a statement. The total income of the company recorded an increase to Rs. 200.54 crore for the January to March, 2013 quarter compared to Rs. 188.36 crore recorded in the fourth quarter of the previous financial year.

The company informed that Bombay Stock Exchange (BSE) that the board has recommended a dividend of Rs. 4 per equity share of Rs. 10 each on 8,87,80,856 equity shares.

As for the whole year, Mahindra Holidays and Resorts said that its net profit rose to Rs 106.97 crore during the financial year 2012-2013 compared to Rs. 104.64 recorded in the financial year 2011-12. Total income of the company also increased to Rs 701.54 crore compared to Rs 621.55 crore during previous financial year

"As India's largest vacation ownership company, we remain committed to growth. This year we have taken the bold and confident step of making additions internationally with two large resorts in Dubai and Bangkok," said MHRIL Chairman Arun Nanda.