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Indiabulls Real Estate Posts Rs 109.78 crore Net Loss In First Quarter

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Total income fell to Rs 151.69 crore in the fourth quarter of the last fiscal from Rs 2,040.61 crore in the corresponding period of the previous year. 

Indiabulls Real Estate Ltd on Thursday reported a consolidated net loss of Rs 109.78 crore for the quarter ended March due to lower income. It had posted a net profit of Rs 108.56 crore in the year-ago period, the company said in a regulatory filing. 

Total income fell to Rs 151.69 crore in the fourth quarter of the last fiscal from Rs 2,040.61 crore in the corresponding period of the previous year. 

For fiscal year 2019-20, net profit declined to Rs 120.69 crore from Rs 504.14 crore in 2018-19. 

Total income fell to Rs 3,440.63 crore in FY20 from Rs 5,222.93 crore in FY19, the Mumbai-based developer said.

Source: PTI

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