Man Infraconstruction net profit jumps 118% in Q4

MUMBAI : Mumbai-based Man Infraconstruction Limited on Tuesday, reported a 118% increase in its March quarter consolidated net profit at 81.6 crore as against 37.4 crore in the same period of FY2022. 

The company’s revenue grew by a 157% to 680 crore during the March quarter as compared to 264 crore in the year-ago period. The company’s operating profit grew by 124% YoY to 124 crore during the March quarter. 

Man Infraconstruction declared a dividend of Rs. 0.36 per equity share for the quarter, while announcing its financials.  The Record Date for the purpose of determining the entitlement of shareholders for the said Interim Dividend has been fixed as Friday, 19th May, 2023 and the said dividend shall be paid/ dispatched on Thursday, 01st June, 2023. 

Manan Shah, Managing Director, Man Infraconstruction Limited, said, “FY23 has been one of the most eventful years in the history of the MICL group as the company has achieved strongest collections of Rs. 1,448 crore; record number of projects delivered of 7.1 lakh square feet and a record number of new launches of projects of 7.2 lakh square feet in a financial year. We believe the real estate sector is witnessing one of the best growth cycles where a significant majority of the demand is coming from the end users led by rising incomes and increasing aspirations of newer and bigger homes. There is good demand for premium lifestyle homes and luxury residential apartments in MMR region in which we operate and we continue to focus to cater these markets through our upcoming projects and projects in pipeline.”


Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.

Take the test

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Source link

Back to top button