Omaxe Q3 net profit stands at Rs 154.16 cr

Written by Agencies | Mumbai, January 31: | Updated: Jan 31 2008, 21:20pm hrs
Real estate developer Omaxe Ltd on Thursday posted a net profit of Rs 154.16 crore and a total revenue of Rs 678.22 crore for the third quarter ended December 31, 2007.

For the same period, the standalone profit stood at Rs 123.09 crore and total revenue at Rs 576.84 crore, it informed the Bombay Stock Exchange.

In a statement, the firm said the net profit jumped 88 per cent at Rs 387.86 crore for the nine months ended December 31, 2007 as compared to Rs 206.35 crore for the same period a year ago.

The revenues rose 49.2 per cent at Rs 1,732.78 crore for the period under review against Rs 1,161.42 crore in the corresponding nine months last year.

The soaring demand in the real estate sector has helped us in attaining our targets boosting our revenues, Omaxe Chairman and Managing Director Rohtas Goel said.

The quarter has been significant since we announced a slew of new projects along with our foray into the South Indian market and also the infrastructure sector, he added in the statement.

In late afternoon trade, shares of the company were trading at Rs 284.40, down 3.56 per cent on the BSE.