Landmark Cars net profit nearly doubles to Rs.14.5 crore in Q1; revenue rises 22%
New Delhi, Aug. 11 -- Landmark Cars, one of the leading premium automotive retail businesses, posted a strong set of numbers for the quarter ended June on Tuesday, post-market hours. The company reported a consolidated net profit of Rs.14.5 crore, a 97.5% jump from Rs.7.3 crore in the same period last year.
Revenue from operations, including agency sales, rose 22.47% year-on-year to Rs.1,733 crore. Vehicle sales, including agency sales and pre-owned vehicle sales, increased 24.15% YoY to Rs.1,465 crore.
The revenue includes sales generated under Mercedes-Benz's agency model, under which customers place orders directly with Mercedes-Benz India Ltd. (MBIL). Under this arrangement, Landmark Cars earns a commission on each Mercedes-Benz veh...
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