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2 min read | Updated on August 16, 2024, 14:30 IST
SUMMARY
The company reported a consolidated net loss of ₹26.97 crore against ₹12.21 crore in the same quarter a year ago. Revenue from operations declined to ₹26.46 crore in Q1FY25, down 34% year-on-year from ₹40.67 crore in the June quarter of FY24.
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Max India shares hit 5% lower circuit after Q1 net loss widens to ₹27 crore
Max India announced its results for the first quarter of the current financial year on August 14, post market hours. The company reported a consolidated net loss of ₹26.97 crore against ₹12.21 crore in the same quarter a year ago. Revenue from operations declined to ₹26.46 crore in Q1FY25, down 34% year-on-year from ₹40.67 crore in the June quarter of FY24.
The company’s EBITDA loss stood at ₹21.5 crore in Q1FY25 against ₹6.9 crore in the year-ago period, according to the stock exchange filing. On a QoQ basis, net losses also increased compared to ₹21.57 crore in Q4FY24.
On a quarter-on-quarter basis, Max India’s revenue from operations dropped 41.2% compared to ₹45.04 crore in Q4FY24.
This was due to less inventory available for sale in the residences vertical compared to last quarter. “The reduction in consolidated revenues was expected and is temporary. Revenues shall improve as we launch new projects,” the company said in its investor presentation.
Consolidated EBITDA loss also widened sequentially compared to ₹16 crore in Q4FY24.
Max India's investor presentation said that the results across all business verticals in Q1FY25 were better than expected. “Revenues shall improve as we launch new projects,” it said, adding that the company will now focus on scale-up in FY25.
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