Consolidated net profit rose 4% to ₹99.96 crore from ₹96.14 crore in the first quarter last year, while revenue from operations increased 9.6% to ₹211.8 crore from ₹193.34 crore.
Its earnings before interest, taxes, depreciation and amortisation (EBITDA) declined 7.2% to ₹102.4 crore from ₹110.3 crore, with EBITDA margin contracting to 48.3% from 57% in the year-ago period.
During the quarter, the company surrendered certain premises acquired on long-term lease. The unwinding of the related right-of-use asset and lease liabilities resulted in a net gain of ₹11.22 crore, which was recognised as other income in the Way-Side Amenities segment.
Total income rose to ₹255.4 crore from ₹221.45 crore, aided by a jump in other income to ₹43.6 crore from ₹28.11 crore. Profit before tax stood at ₹127.04 crore compared with ₹123.82 crore in the year-ago period.
Among business segments, the Realty business generated revenue of ₹98.39 crore, broadly unchanged from ₹98.49 crore a year ago, while Bombay Exhibition Centre revenue increased to ₹44.62 crore from ₹40.42 crore.
The foods segment reported revenue of ₹57.68 crore compared with ₹47.01 crore last year, while Indabrator revenue rose to ₹11.11 crore from ₹7.42 crore.
Segment profit before tax and finance costs improved for the Bombay Exhibition Centre to ₹22.1 crore from ₹20.55 crore and for Indabrator to ₹0.12 crore from a loss of ₹0.45 crore, while the realty segment’s profit eased to ₹82.85 crore from ₹84.12 crore.
Shares of the company fell over 2.3% following the results announcement and were trading at ₹1,031.60 as of 1.38 pm. The stock has declined about 16% so far this year.
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