Prestige Estate's share net profit declines by 3% while revenue goes up by 11%

Prestige Estates Projects Ltd reported a 3% decline in net profit for the first quarter, dropping to Rs.307 crore from Rs.317.8 crore in the same period last year. Despite the dip in net profit, the company's revenue rose by 11%, reaching Rs.1,862.1 crore compared to Rs.1,680.9 crore in the previous fiscal year.

In the same quarter of the previous year, the company had recorded a net profit of Rs.317.8 crore. However, revenue from operations grew by 10.8%, reaching Rs.1,862.1 crore compared to Rs.1,680.9 crore in the same period last fiscal year.

In the first quarter of the fiscal year, Prestige Estates Projects Ltd reported a substantial 51.2% increase in EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization), reaching Rs.796.3 crore compared to Rs.526.7 crore in the same quarter of the previous fiscal year.

This sharp rise in EBITDA highlights the company's improved operational efficiency and profitability at the core level.

The EBITDA margin, which indicates the percentage of revenue that translates into EBITDA, also improved significantly. It stood at 42.8% for the current quarter, up from 31.3% in the corresponding quarter of the previous fiscal year. This increase reflects a stronger ability to convert revenue into operating profit.

These financial results were released after the market had closed for the day. Following the announcement, the company’s share price on the Bombay Stock Exchange (BSE) fell to Rs.1,820.00, marking a decrease of Rs.27.85 or 1.51%.