Mahindra group's realty firm Mahindra Lifespace Developers Ltd today reported a 21 per cent increase in consolidated net profit at Rs 23.47 crore for the second quarter ended September.
It's net profit stood at Rs 19.38 crore in the year-ago period.
Total income, however, fell to Rs 193 crore in the second quarter of this fiscal from Rs 208 crore in the corresponding period of the previous year, Mahindra Lifespace said in a filing to the BSE.
"Growth through better execution and increased profitability due to lower interest cost have been the key highlights of this quarter," company's CFO Jayantt Manmadkar said.
Shares of the firm fell 3.74 per cent to settle the day at Rs 511.90 apiece on the BSE.
