Omaxe Q4 net profit up by over 50 per cent

NEW DELHI: Realty firm Omaxe today reported over 50 per cent increase in consolidated net profit at Rs 35.66 crore in the fourth quarter ended March 31.

The company had posted profit of Rs 23.73 crore in the year-ago period, Omaxe said in a filing to the BSE.

Total income from operations rose by 12.6 per cent to Rs 679.67 crore during the January-March quarter of the 2012-13 fiscal, from Rs 603.57 crore in Q4 of previous fiscal.

During the entire 2012-13 fiscal, the company's consolidated net profit increased by 17 per cent to Rs 105.67 crore, from Rs 90.38 crore in the previous fiscal.

Net income increased to Rs 2077.54 crore from Rs 1848.74 crore in the review period.

The construction of two real estate projects of the company (including subsidiaries) have been suspended due to stay given by the High Court on the basis of civil petition, the filing added.

Omaxe, which has presence in 39 cities across India, is currently working on over 40 real estate projects.

The company's scrip rose marginally to close at Rs 148.35 on the BSE today.