Mahindra Lifespaces Q4 PAT turns around to Rs136.82cr on exceptional gains from writeback of impairment losses

28 Apr 2022 , 07:36 PM

Mahindra Lifespaces Ltd reported 166.72% growth in total revenues yoy for the Mar-22 quarter on consolidated basis at Rs155.02cr. On a sequential basis, revenues were higher for the quarter by 365.25%.

For the full year FY22, the revenues were higher by 117% at Rs408cr. The company had seen a huge impact on its revenue numbers during the COVID lockdown and is just about recovering.

For the Mar-22 quarter, it saw good traction across both its verticals viz. project management & development as well as complexes operation.

The consolidated net profit for Q4 turned around from a net loss of Rs-27.24cr to a gain of Rs.136.82cr in Mar-22 quarter. This was triggered by two exceptional gains in the latest quarter.

Firstly, there was an exceptional gain of Rs96.84cr arising from the writeback of impairment provisions made on behalf of Mahindra Homes Private Ltd as the business picked up momentum.

The other profit boost came from a deferred tax credit in the latest quarter of Rs65.24cr which boosted gains. NPM was higher sequentially by 13.17% QOQ.

Financial highlights for Mar-22 compared yoy and sequentially

	Mahindra Lifespaces
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 155.02	₹ 58.12	166.72%	₹ 33.32	365.25%
Net Profit (Rs cr)	₹ 136.82	₹ -27.24	N.A.	₹ 25.02	446.84%
Diluted EPS (Rs)	₹ 8.88	₹ -1.80		₹ 1.61
Net Margins	88.26%	-46.87%		75.09%