Shares of Landmark Cars Ltd crashed 7% on 24 May after the company announced its quarterly earnings for January-March. 

The luxury car dealer, in its quarterly earnings, reported a 54% year-on-year decline in net profit to Rs 11 crore for the quarter under review from Rs 24.26 crore reported in the same quarter last year. On a sequential basis, the net profit slumped 40% quarter-on-quarter from Rs 18.5 crore.

The revenue from operations during the quarter stood at Rs 863.97 crore, marking a marginal growth from Rs 853.78 crore reported in the same quarter of the previous fiscal year. The revenue fell 10% QoQ from Rs 959.24 crore during the year-ago quarter. 

The earnings before interest, tax, depreciation and amortisation (EBITDA) during the quarter declined by 12% YoY to Rs 56.2 crore from Rs 63.8 crore a year-ago. The EBITDA margins during the quarter contracted by 90 basis points to 6.2% from 7.9% in Q4FY23. 

The Board of Directors of the company also declared a final dividend of Rs 1.5 per share for the fiscal year 2-23-24. 

At 3:30 pm, the shares of Landmark Cars closed 5.32% lower at Rs 724 on NSE.