Puravankara Q2 net profit down by 8 per cent at Rs 46 crore

NEW DELHI: Realty firm Puravankara Projects today reported 8 per cent fall in consolidated net profit at Rs 46 crore for second quarter of this fiscal.

It posted a net profit of Rs 50.2 crore in the year-ago period, Bangalore-based firm said in a statement.

Puravankara posted 10 per cent increase in consolidated revenue at Rs 300.8 crore during July-September quarter of 2013-14 against Rs 273.7 crore in the corresponding period of previous year.

The net profit fell due to lower share of profit from associate companies.

Area sold increased by 21 per cent for the quarter ended September 30, entailing 0.82 million sq ft compared to 0.68 million sq ft during the corresponding quarter last year.

"Sale value for the quarter was Rs 358.2 crore, representing a 47 per cent increase from Rs 243.1 crore in the quarter ended September 30, 2012," the statement said.