Net revenue

Net income Rs 1,397.81 Crore, down 33%; Net profit drops by 12.45% to Rs 208.75 Crore

Mumbai-based Macrotech Developers (Lodha Group) today reported net revenue of Rs 1,397.81 crore for the quarter ended December 31, 2021, a sharp decline of 33% mainly caused by uncertainties and COVID-related restrictions on the Omicron variant in different parts of the country. . The company had reported net income of Rs 2,075.94 crore in the September quarter.

At the end of the third quarter of the fiscal year, the company reported a net worth of Rs 11,240.66 crore, an impressive jump of 60% from the Rs 6,997.59 crore reported at the end of the second quarter.

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In its quarterly earnings report, the property developer reported net profit of Rs 208.75 crore, down 12.45% quarter-on-quarter from the Rs 238.46 crore reported in September term.

According to the report, the company recorded an operating margin of 32.84% last quarter compared to 33.03% in Q2FY22, while its net profit margin was 14.61% compared to 11.35% in the quarter. previous.

The company reported earnings per share of Rs 4.49 crore, down 15.75% from the Rs 5.33 crore reported the previous quarter. It reported a paid-up share capital (at a nominal value of Rs 10 each) of Rs 481.51 crore compared to Rs 447.32 crore in Q2FY22.

First post: STI