MAHINDRA LIFESPACE Announces Quarterly Results (1QFY21); Net Profit Down 221.7%

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MAHINDRA LIFESPACE Announces Quarterly Results (1QFY21); Net Profit Down 221.7%
Wed, 26 Aug

MAHINDRA LIFESPACE has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

MAHINDRA LIFESPACE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m1,0621,014143-85.9%-86.5%
Other incomeRs m1419478-17.0%-44.8%
TurnoverRs m1,2031,108221-80.1%-81.6%
ExpensesRs m1,0291,528343-77.6%-66.7%
Gross profitRs m33-1,860-200-702.1%
DepreciationRs m201918-2.7%-7.6%
InterestRs m231337180.8%60.8%
Profit before taxRs m132-1,798-177-234.6%
TaxRs m21-48-42-303.9%
Profit after taxRs m111-1,751-135-221.7%
Gross profit margin%3.1-183.4-139.6
Effective tax rate%15.72.623.8
Net profit margin%9.2-158.0-61.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 86.5% on a year-on-year (YoY) basis. The expenses were down by 66.7% YoY during the same period.
  • The company's operating profit declined by 702.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 139.6% in 1QFY21 as against 3.1% in 1QFY20.
  • Depreciation charges declined by 7.6% and finance costs increased by 60.8% YoY, respectively.
  • Other income declined by 44.8% YoY during the quarter.
  • Net profit for the quarter declined by 221.7% YoY. Net profit margins during the quarter declined from 9.2% in 1QFY20 to -61.0% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 85.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 77.6% QoQ during the same period.
  • The company's operating profit declined by 89.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 139.6% in 1QFY21 as against 183.4% in 4QFY20.
  • Net profit for the quarter increased by 92.3% QoQ, while net profit margins increased from -158.0% in 4QFY20 to -61.0% in 1QFY21.

To see how MAHINDRA LIFESPACE has performed over the last eight quarters,please visit here.

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MAHINDRA LIFESPACE Share Price Performance

Over the last one year,MAHINDRA LIFESPACE share price has moved down from Rs 371.0 to Rs 273.5, registering a Loss of Rs 97.5 or around 26.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,731.4 (up 1.1%). Over the last one year it has moved down from 1,954.6 to 1,731.4, a gain of 223 points (down 11.4%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 273.5, the price to book value (P/BV) ratio of MAHINDRA LIFESPACE stands at 0.6 times.

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