Mahindra Lifespace shares drop 3.5 pc after Q3 earnings

New Delhi, Jan 27 () Shares of realty firm Mahindra Lifespace Developers Ltd on Monday dropped 3.5 per cent after the company reported a 91 per cent decline in net profit for the quarter ended December.

The scrip dipped 3.04 per cent to close at Rs 399.90 on the BSE. During the trade, it tanked 4.95 per cent to Rs 392.

On the NSE, it fell 3.51 per cent to close at Rs 398.25.

Mahindra Lifespace Developers Ltd reported a 91 per cent decline in its net profit to Rs 1.81 crore for the quarter ended December.

Its net profit stood at Rs 20.58 crore in the year ago period, the company said in a regulatory filing on Monday.

Total income also fell to Rs 85 crore during the third quarter of 2019-20 from Rs 137.37 crore in the corresponding period of the previous year.

Mahindra Lifespace Developers is the real estate and infrastructure development business of the Mahindra Group. SUM SHW SHW