DB Realty reports Q1 net profit of Rs 16 lakh

DB Realty Ltd today reported a consolidated net profit of Rs 16 lakh for the quarter ended June 30 against a net loss of Rs 2.07 crore a year earlier.

Income from operations fell to Rs 81.64 crore in the first quarter of this fiscal year from Rs 84.92 crore in the year-ago period, Mumbai-based DB Realty said in a filing to the BSE.

"The company has made good progress on getting approvals on various projects in the last quarter," company CEO Vipul Bansal said in the statement.

"The construction on active sites is as per schedule as well."

The company is currently developing 90 million square feet of property, mostly located in Mumbai and adjoining areas.