Mahindra Lifespace D posts Q1 net profit of Rs 76.63 cr
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The company reported standalone net profit during the quarter stood at Rs 76.63 crore compared to net loss of Rs 15.42 crore in the previous year quarter. Net revenue of the company declined substantially by 92.41 per cent at Rs 10.65 crore in April-June quarter of this fiscal as against Rs 140.29 crore in the corresponding period last year. During April-June quarter, operating expenses dropped by 73.89 per cent to Rs 43.04 crore from Rs 164.87 crore in year ago period.
Other Income grew by 1026.74 per cent at Rs 61.52 crore versus (Jun'21 Rs 5.46 crore). Operating Profit surged by 31.77 per cent to Rs -32.39 crore as against Rs -24.58 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1635.90 per cent in June quarter. Interest grew by 54.10 per cent y-o-y to Rs 0.94 crore, while Taxation increased by 219.90 per cent at Rs 6.87 crore (Jun'21 Rs -5.73 crore).
