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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