Mahindra Lifespace October-December net profit down 76.4%

MUMBAI: Mahindra Lifespace Developers, the real estate development arm of the Mahindra Group, has reported 76.4% on-year drop in consolidated net profit at Rs 7.74 crore for the quarter ended December. The developer’s income from operations also declined 7.7% to Rs 220.31 crore.

Other income for the quarter stood at Rs 10.44 crore as against Rs 10.95 crore a year ago. Financing cost for the period rose to Rs 14.32 crore from Rs 12.97 crore a year ago.

On Thursday, shares of Mahindra Lifespace Developers closed at Rs 489 on the Bombay Stock Exchange, up 8.3% over Wednesday’s close.