Indiabulls Real Estate Q2 net dips 76 pc at Rs 7.99 cr

MUMBAI: Indiabulls Real Estate on Wednesday announced a consolidated net profit of Rs 7.99 crore for the second quarter ended September 30, a 76.60 per cent decline over the corresponding period a year-ago.

The company had a consolidated net profit of Rs 34.15 crore in the second quarter ended September 30, 2007, Indiabulls Real Estate said in a filing to the Bombay Stock Exchange.

The consolidated total income of the company rose to Rs 143.82 crore in the quarter under review from Rs 78.21 crore of the corresponding period last fiscal, it said.

On a standalone basis, Indiabulls Real Estate posted a net profit of 6.87 crore in the quarter ended September 30, a 69.82 per cent decline over the corresponding period a year-ago.

The company had posted a standalone net profit of 22.77 crore in the second quarter ended September 30 in 2007-08.

The standalone total income of Indiabulls Real Estate rose to Rs 49.61 crore in the latest quarter from Rs 37.34 crore of corresponding period last fiscal.

Shares of the company were trading at Rs 106, down 19.21 per cent in the afternoon trade on the BSE.