Shares of Landmark Cars dropped over 6% after the company’s Q4 results missed market estimates.
Net profit for the quarter ended March 2024 fell by 56.03% to Rs 10.58 crore, compared to Rs 24.06 crore in the same quarter last year. Sales rose slightly by 1.19% to Rs 863.97 crore from Rs 853.80 crore in the previous year’s quarter.
For the full financial year, net profit declined by 33.71% to Rs 56.01 crore, compared to Rs 84.49 crore in the previous year. Sales for the year decreased by 2.79% to Rs 3287.89 crore, down from Rs 3382.35 crore the previous year.
As of 10:53 AM, the shares were trading 6.38% lower.
Landmark Cars Limited is the leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen, and Renault. The company also caters to the commercial vehicle retail business of Ashok Leyland in India.
