Landmark Cars reported 99.90% decline in consolidated net profit to Rs 0.02 crore in Q2 FY25 as against Rs 20.16 crore posted in Q2 FY24.
However, Revenue from operations jumped 17.72% YoY to Rs 907.27 crore in the quarter ended 30 September 2024.Profit before tax (PBT) slumped 97.42% to Rs 0.48 crore in Q2 FY25 as compared to Rs 18.67 crore reported in Q2 FY24.
EBITDA stood at Rs 54.8 crore in Q2 FY25, registering de-growth of 4.19% as compared with Rs 57.1 crore posted in corresponding quarter last year. EBITDA margin reduced to 6.04% in Q2 FY25 as against 7.42% in Q2 FY24.
The company has operationalized 21 out of 23 new outlets planned for the year till date. Of these 12 were opened in Q2 FY25 and 6 were opened in Q3 FY25. These outlets were operational before the planned timeline and the capex remained within the budget
Proforma revenue jumped 13.17% YoY to Rs 1,267.6 crore in Q2 FY25.
On half year basis, the companys consolidated net profit tumbled 88.4% to Rs 3.16 crore in H1 FY25 as compared to Rs 27.19 crore recorded in H1 FY24. Revenue from operations jumped 18.74% YoY to Rs 1,739.25 crore in H1 FY25.
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The average selling price for new vehicle sold at Rs 20.80 crore in H1 FY25 as compared with Rs 19.73 crore recorded in H1 FY24.
Landmark Cars is the leading premium automotive retail business in India with dealerships for Mercedes Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra and MG Motors. The company also caters to the commercial vehicle retail business of Ashok Leyland in India. The company has its presence across the automotive retail value chain, including sales of new vehicles, after-sales service and repairs, sales of pre-owned passenger vehicles and facilitation of the sales of third party financial and insurance products.
The scrip rose 0.83% to Rs 635.20 on the BSE.
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