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Hot Pursuit News

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(03 Feb 2024, 16:18)

Mahindra Life Q3 PAT climbs 51% YoY to Rs 50 cr

The real estate developer’s consolidated net profit jumped 50.6% to Rs 50 crore in Q3 FY24 as against Rs 33.2 crore recorded in Q3 FY23.


However, revenue from operations tumbled 56.13% to Rs 81.99 crore in Q3 FY24 from Rs 186.90 crore posted in the corresponding quarter previous year.

Total income for the quarter ended December 2023 was at Rs 88.77 crore, down 55.2% over the same period last year.

Consolidated profit before tax stood at Rs 39.09 crore in the third quarter, registering a growth of 19.43% year on year.

Total expenses slipped 38.98% YoY to Rs 125.12 crore in Q3 FY24.

The company achieved quarterly pre-sales of Rs 443 crore and collections of Rs 386 crore in residential business.

Further, the realty firm has also achieved land leasing of 77.4 acres in the industrial business for Rs 224 crore during the quarter.

On 9M basis, the company’s net profit tumbled 73.78% to Rs 26.82 crore on...

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