Mahindra Lifespace shares rally nearly 8%, Bajaj Auto drops over 2% post q4 earnings

In morning trade on April 28, 2022, Mahindra Lifespace Developers Ltd. shares gained nearly 8 per cent after the company reported a consolidated net profit of Rs 154.5 crore for the last fiscal year.

Shares of the company gained 6.17 per cent to Rs 392.60 on the BSE.

The stock gained 7.66 per cent to Rs 398.20 at the NSE.

During FY21, it reported a net loss of Rs 71.7 crore.

The company's consolidated total income was Rs 408.2 crore in the last fiscal year, compared with Rs 187.8 crore in FY21.

Mahindra Lifespace Developers Ltd.'s Managing Director and CEO, Arvind Subramanian, said.

FY22 has been a year of strong growth. Our residential pre-sales grew by almost 50 per cent to Rs 1,028 crore, while our industrial leasing has grown by 130 per cent to Rs 298 crore.

Shares of Bajaj Auto dipped over 2 per cent in early trade on April 28, 2022 after the company reported a 2 per cent decline in consolidated net profit for the fourth quarter ended March 2022.

The shares of Bajaj Auto declined 2.58 per cent to Rs 3,804.80 on the BSE.

At the NSE, the stock dipped 2.57 per cent to Rs 3,805 apiece.

Bajaj Auto on Wednesday reported a 2 per cent decline in consolidated net profit at Rs 1,526 crore for the fourth quarter ended March 2022, as sales in both domestic and export markets were hit by weak demand and semiconductor shortage.

The Pune-based company had reported a consolidated net profit of Rs 1,551 crore in the January-March quarter of 2020-21.

Total revenue from operations declined to Rs 7,975 crore during the fourth quarter, as compared with Rs 8,596 crore in the same period of FY21.

The company's total two-wheeler and commercial vehicle sales declined by 17 per cent to 9,76,651 units in the fourth quarter, as against 11,69,664 units in the same period of 2020-21 fiscal.

(With Iputs from PTI)