Mahindra Lifespace Q1 results: Net profit up by 18%

Mahindra Lifespace Q1 results: Net profit up by 18%
Mahindra Lifespace Developers Q1FY12 results show increase in total income from operations grew up by 20%, up to Rs 8,145 lakhs from Rs 6,793 lakhs in Q1 FY11. Increase in revenues of the two divisions of the company supported this figure.

Whereas one another segment which earned Rs 28 lakhs during Q1 FY12, was shut down during quarter ended 31st December 2010. Also increase in sales was supported by the first export consignment send by the Mahindra world city.

Total expenditures of the company also increased by 23.62 %, up to Rs 6,458 lakhs from Rs 5,224 lakhs in the same quarter last year. Expenditures have increased mainly on account of increase in costs of projects.

Profits (before other income, interest and tax) have climed to Rs. 1,657 lakhs, up by 5.6 percent from Rs 1,569 lakhs during Q1 FY11. On a big note, other income of the company has increased by 87 percent up to Rs 913 lakhs from Rs 488 lakhs during Q1 FY11.

This steep rise in other income led to a 25 percent rise in profits (before interest and tax) leading to Rs 2,570 crore as compared to Rs 2,057 lakhs during Q1 FY11. Net profits after tax (PAT) amounted to Rs. 1,709 lakhs as compared to Rs 1,448 lakhs during Q1 FY11.

Earnings per share (EPS) of the company has managed to increase from Rs 3.54 to Rs 4.18 during Q1 FY11.

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