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Prestige Estates Projects reports 58% fall in Q2 consolidated net profit

08 Dec 2016 Evaluate

Prestige Estates Projects has reported results for second quarter ended September 30, 2016.

The company has reported 44.56% fall in its net profit at Rs 71.13 crore for the quarter under review as compared to Rs 128.31 crore for the same quarter in the previous year. Total income of the company decreased by 34.21% at Rs 512.10 crore for the quarter under review as compared Rs 778.39 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 58.24% fall in its net profit after minority interest & share of profit / (loss) of jointly controlled entities at Rs 64.51 crore for the quarter ended September 30, 2016 as compared to Rs 154.47 crore for the same quarter in the previous year. Total income of the company decreased by 29.41% to Rs 1173.52 crore for quarter under review from Rs 1662.35 crore for the quarter ended September 30, 2015.

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