Indiabulls Real Estate’s Q1 consolidated net profit declines 47%

26 Jul 2014 Evaluate

Indiabulls Real Estate has reported results for first quarter ended June 30, 2014.

The company’s net profit has declined 95.44% at Rs 2.33 crore as compared to Rs 51.09 crore for the quarter ended June 30, 2013. The company’s total income has decreased by 42.18% to Rs 62.87 crore for the quarter under review from Rs 108.74 crore for the corresponding quarter of the previous year.

On the consolidated basis, the Group has reported 46.49% fall in its net profit after taxes & Minority interest at Rs 38.85 crore for the quarter as compared to Rs 72.61 crore for the same quarter in the previous year. However, total income has increased by 18.80% at Rs 623.48 crore for quarter under review as compared to Rs 524.80 crore for the quarter ended June 30, 2013.

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