Indiabulls Real Estate ends 2% up as net profit rises over two folds

NEW DELHI: Indiabulls Real Estate Ltd surged as much as 6.4 per cent in trade on Friday, a day after the company reported an over two-fold increase in its consolidated net profit at Rs 93.13 crore for the fourth quarter ended March 31, 2015.

The stock ended the day in green, up 2.24 per cent or Rs 1.30 at Rs 59.40.

The company had posted a consolidated net profit of Rs 41.67 crore in the same period of previous fiscal, IBREL said in a filing to the BSE.

The company's total income from operation also rose to Rs 594.22 crore during the quarter, up 81.38 per cent against Rs 327.60 crore in the same period of the previous fiscal.

During 2014-15 fiscal, the company's consolidated net profit was also up 10.82 per cent to Rs 248.08 crore as against Rs 223.84 crore in the year-ago period.