DB Realty Q3 net down 89%

NEW DELHI: DB Realty has reported that its net profit for the third quarter fell 89% to Rs 11.7 crore. The company had posted a net profit of Rs 104.8 crore in the corresponding period last year, DB Realty said in a filing to the BSE.

The net revenues for the company during the October-December quarter dropped 61.6% to Rs 104.8 crore from Rs 273.2 crore a year ago. DB Realty promoter Shahid Balwa is facing criminal charges in the 2G telecom scam case and is now out on bail.