Profit

Indiabulls Real Estate Posts Two-Fold Jump in Q2 Profit

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New Delhi: Indiabulls Real Estate Ltd on Wednesday reported a two-fold increase in consolidated net profit at Rs 75.01 crore for the fiscal second quarter that ended on September 30, 2015, helped by sale of investments.

The company had posted a net profit of Rs 37.33 crore for the corresponding period a year ago.

Total income from operations declined 18.67 per cent to Rs 605.73 crore during the said quarter compared with Rs 744.79 crore a year earlier, Indiabulls Real Estate said in a filing to the BSE.

The company recorded gains of Rs 51.34 crore from sale of investments in the quarter under review.

As of 12:47 p.m., shares in Indiabulls Real Estate were trading nearly 5 per cent lower at Rs 67.55 apiece on the BSE, whose benchmark Sensex index was down 0.2 per cent.


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