Lodha (Macrotech Developers Ltd), on Saturday announced its financial results for the quarter ended September 30, 2023. In the seasonally weakest quarter, company reported pre-sales performance showing 12 percent YoY growth along with continued debt reduction and robust business development, the company announced through an exchange filing.
Q2FY24 Operational & Financial Overview
In the operational and financial overview for the second quarter of FY24, there were notable developments. Pre-sales experienced a substantial increase of 12 percent year-on-year, reaching Rs 35.3 billion. Collections also showed a significant growth of 16 percent YoY, totaling Rs 27.5 billion. However, revenues from operations witnessed a slight decline, down by 0.9 percent YoY, amounting to Rs 17.5 billion.
Adjusted EBITDA was reported at Rs 5.5 billion, marking a 5.2 percent YoY increase. On the other hand, the Profit After Tax (PAT) experienced a notable decrease, with Rs 2.1 billion, reflecting a significant decline of 42.4 percent YoY.
Abhishek Lodha, MD & CEO, Macrotech Developers Ltd. said, “We achieved our best ever quarterly pre-sales performance at Rs 35.3 Billion showing 12 percent YoY growth in spite of the quarter being the seasonally weakest. Our ‘for-sale’ business has shown a stellar 20 percent YoY growth for the quarter. With this strong performance, we have achieved pre-sales of INR 68.9bn in H1FY24, our best ever 1st half in terms of Pre-sales."
Macrotech Developers Ltd shares
The shares of Macrotech Developers Ltd on Friday at 3:30 pm IST closed at Rs 733.90, up by 1.05 percent.
