Macrotech's Q4 net profit falls y-o-y by 11%

25 Apr 2024 , 11:54 AM

In a regulatory statement on April 24, real estate company Macrotech Developers stated that its consolidated net profit for the quarter ended March 31, 2024, decreased 11% year over year to ₹665.5 Crore.

Nonetheless, the company reported a threefold increase in profit to ₹1,549 Crore for the entire fiscal year. In the fourth quarter of FY2022-23, its net profit was ₹744.4 Crore, and for the full FY2022-23 fiscal year, it was ₹486.7 Crore.

According to a regulatory filing, Macrotech Developers’ total income increased to ₹4,083.9 Crore in the quarter under review from ₹3,271.7 Crore in the same period last year. The company’s total income increased to ₹10,469.5 Crore in FY2023–24 from ₹9,611.2 Crore in the FY2022–2023 fiscal year.

In addition to India’s Bengaluru, Pune, and Mumbai, Lodha has completed projects in the UK. But the business wants to concentrate on expanding in India.

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