DB Realty's Q2 profit rises to Rs 10 crore

NEW DELHI: Despite lower sales, DB Realty today reported a sharp increase in its consolidated net profit at Rs 10.01 crore for the second quarter ended September 30, 2014-15.

Its net profit stood at mere Rs 58.93 lakh in the year-ago period, Mumbai-based real estate developer said in a filing to the BSE.

Net sales, however, declined to Rs 79.97 crore during the second quarter of this fiscal compared with Rs 87 crore in the corresponding period of the last fiscal.

DB Realty's Q2, 2014-15 profit has increased due to rise in other income to nearly Rs 13 crore, from nearly Rs 7 crore in the year-ago period.

The company also earned an exceptional income of nearly Rs 9 crore during the September quarter.

DB Realty posted a turnover of Rs 314.07 crore in the 2013-14 fiscal.

The company's share price closed at Rs 67.50, down 1.82 per cent, on the BSE.

DB Realty is developing about 36 projects, mostly in and around Mumbai, comprising 90 million sq ft.