Mahindra Lifespace Developers Ltd shares hit a day high of Rs 359.50 on 22 October, up 5%, after the company announced its Q2 results.

The Mahindra Group real estate arm filed the outcome of its board meeting with exchanges on Thursday, along with an investor presentation.

For the quarter ended 30 September, the company reported a consolidated net profit of Rs 16.3 crore. A year ago it earned Rs 47.9 crore, so profit fell about 66%.

The results are unaudited and cover the company and its subsidiaries together. Revenue moved the other way. It rose 84.1% to Rs 32.4 crore from Rs 17.6 crore.

Other income, the money earned outside its core business, climbed to Rs 71.6 crore from Rs 15.5 crore.

Together, the two add up to about Rs 104 crore. The company still posted an operating loss.

EBITDA, a measure of earnings from day-to-day operations, came in at a loss of about Rs 55 crore, compared with a loss of Rs 52.4 crore a year earlier, so the gap widened a little. Put simply, income grew but profit shrank.

Earlier this year, the company declared a dividend of Rs 3.50 per share, with the ex-date on 3 July. Shareholders on the record date, also 3 July, qualified for the payout.

At 15:13 pm, shares were trading at Rs 354.10 on NSE, up by Rs 13.35 or 3.92% from the previous close of Rs 340.75.

About 21.67 lakh shares had changed hands by then. The stock’s 52-week range is Rs 286.80 to Rs 427.05.

Over the past week, the stock has gained 3.37%, but it is down 9.53% over one year. It’s still down about 9.9% so far this year, and the market capitalisation is around Rs 7,570 crore.

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