Mahindra Lifespace Developers Ltd (MLDL) has reported 59 per cent increase in consolidated net profit to ₹48.63 crore against ₹30.62 crore in the year-ago period.
Income from operations rose to ₹266.29 crore during the fourth quarter of the 2015-16 fiscal, compared with ₹259.11 crore in the same period of 2014-15.
The company’s board has recommended a dividend of 60 per cent.
For the year 2015-16, Mahindra Lifespace reported 65 per cent decline in its profit at ₹93.09 crore against ₹266.20 crore in the previous fiscal. Income from operations also fell to ₹826.16 crore last fiscal from ₹1,086.10 crore in 2014-15.
Source: Hindu Businessline
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