OPEN APP
Home >Companies >Company-results >Mahindra Lifespace net profit drops 18% in September quarter
For September quarter, Mahindra Lifespace’s income from operation increased 51.6% to Rs196.2 crore. Photo: Mint
For September quarter, Mahindra Lifespace’s income from operation increased 51.6% to Rs196.2 crore. Photo: Mint

Mahindra Lifespace net profit drops 18% in September quarter

Mahindra Lifespace's net profit falls to `19.38 cr in September quarter 2014 from `23.61 cr a year earlier

Mumbai: Mahindra Lifespace Developers Ltd (MLDL), a part of the Mahindra group, reported an 18% drop in profit in the June-September quarter because of an increase in project costs.

Net profit dropped to 19.38 crore from 23.61 crore a year earlier, the company said on Tuesday.

For the same period, income from operation increased 51.6% to 196.2 crore. Project cost increased by 80% to 115.1 crore.

“The past quarter has seen progress on the execution front in the residential business while Mahindra World City, Jaipur continued to add new customers in the DTA and SEZ areas," said Anita Arjundas, managing director and chief executive of MLDL, in a statement on Tuesday.

Shares of Mahindra Lifespace gained 0.42% to .418.5 on BSE, while the exchange’s benchmark Sensex lost 0.14% to 20,864.97 points and the BSE Realty index lost 0.22%.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My Reads Redeem a Gift Card Logout