Landmark Cars falls after Q1 PAT falls 55% YoY in FY25

Last update: August 14, 2024 | 12:50 PM IST

Shares of Landmark Cars fell 5.16 per cent to Rs 569.35 after the company’s consolidated net profit declined 54.84 per cent to Rs 3.17 crore in Q1FY25 from Rs 7.02 crore in Q1FY24.

Revenue from operations grew by 19.89% year-on-year to Rs 831.97 crore in Q1FY25.

Profit before tax (PBT) declined 52.36% to Rs 4.74 crore in Q1FY25.

EBITDA stood at Rs 49.8 crore in Q1 FY25, up 6.55% from Rs 46.7 crore recorded in the corresponding quarter last year. EBITDA margin stood at 5.99% in Q1 FY25 as against 6.74% in Q1 FY24.

The company said it saw satisfactory growth in both revenue and profitability from existing sales outlets. This was achieved despite temporary disruptions to the PV market caused by the general election.

Proforma revenue grew by 24.57% year-on-year to Rs 1,163.9 crore in Q1FY25.

The average selling price of a new vehicle during the quarter was Rs 21.50 lakh, as against Rs 19.10 lakh in the corresponding quarter last year.

As the company said in stock exchange documents, upcoming launches of new cars, such as the new Mercedes E-Class, MG Windsor and M&M Thar Roxx, will further increase the growth dynamics over the next few months.

Landmark Cars is a leading premium automotive retailer in India with Mercedes Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra and MG Motors showrooms. The company also operates Ashok Leyland’s commercial vehicle retail business in India. The company has a presence across the automotive retail value chain, including new vehicle sales, after-sales service and repairs, used passenger car sales and facilitating third-party financial and insurance product sales.

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First published: August 14, 2024 | 12:40 PM IST