Macrotech Developers Q4 profit up 39% to Rs 744 cr; to issue bonus shares in 1:1 ratio

Net profit fell to Rs 486.63 crore in the quarter from Rs 1,202.37 crore in the year-ago period. (Representative Image)

Realty firm Macrotech Developers on Saturday reported 39 per cent increase in consolidated net profit at Rs 744.36 crore for March quarter and announced issue of bonus shares to shareholders in ratio of 1:1.

Its net profit stood at Rs 535.46 crore in the year-ago period, Macrotech Developers said in a regulatory filing.

Macrotech Developers sells properties under the Lodha brand and is one of the leading real estate companies in India.

Total income fell to Rs 3,271.71 crore in January-March 2022-23 from Rs 3,481.92 crore in the corresponding period of the previous year.

Net profit fell to Rs 486.63 crore in the quarter from Rs 1,202.37 crore in the year-ago period.

Total income rose to Rs 9,611.16 crore in the last fiscal from Rs 9,525.59 crore in 2021-22.

Macrotech Developers said its board has approved issue of bonus shares in the proportion of one new fully paid up equity share of Rs 10 each for every existing shares of Rs 10 each held by members of the company on record date.

The company will seek shareholders' approvals on bonus issue through postal ballot.