Mahindra Lifespace's Net Profit Down 52%

New Delhi: Mumbai-based Mahindra Lifespace Developers has recorded a 52 percent fall in consolidated net profit at Rs 12.92 crore for the first quarter ended June 30, 2019 as compred to Rs 26.70 crore in the corresponding period of the previous year. 

Total income of the company declined 32 percent at Rs 120.3 crore for the latest quarter as compared to Rs 175.8 crore in the corresponding quarter of the previous year, the company said in a filing to the Bombay Stock Exchange.

In a separate filing, the company informed that Independent Director Shailesh Haribhakti has resigned with effect from the conclusion of the 20th Annual General Meeting of the company held on 26 July, 2019.

In yet another filing, the company also informed that it has approved the appointment of Vimal Agarwal as Chief Financial Officer with effect from 25 July, 2019. He will also be a Key Managerial Personnel effective 26 July, 2019.