New Delhi: Mahindra Lifespace Developers reported 59 % increase in consolidated net profit to Rs 48.63 crore for the March quarter. Income from operations rose marginally to Rs 266.29 crore. “Residential sales demonstrated strong q-o-q performance across projects, resulting in a 17 % growth in FY16 sales over the previous year. “Execution performance was also strong during the quarter, resulting in a total of 0.3 million sq metre (3.3 mn sq ft) getting completed in FY16,” said Anita Arjundas, MD and CEO, Mahindra Lifespace.
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Tata Sponge Iron Q4 profit up 49%
New Delhi: Tata Sponge Iron, an associate firm of Tata Steel, posted a 49.47% increase in consolidated net profit at Rs 12.81 crore for the quarter ended March 31, on account of lower expenses. Net sales dipped by 12.18% to Rs 140.37 crore. Revenue from sponge business fell by 17.48% to Rs 122.88 crore while power business revenue grew by four fold to Rs 20.96 crore.
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