Indiabulls Real Estate Q2 net soars two-fold to Rs 75 crore

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New Delhi | October 21, 2015 11:56 AM

Indiabulls Real Estate Ltd today reported a two-fold increase in consolidated net profit at Rs 75.01 crore for the second quarter ended September 30 helped by sale of investments.

real estate in indiaIndiabulls Real Estate Ltd today reported a two-fold increase in consolidated net profit at Rs 75.01 crore for the second quarter ended September 30 helped by sale of investments. (Representational image: Reuters)

Indiabulls Real Estate Ltd today reported a two-fold increase in consolidated net profit at Rs 75.01 crore for the second quarter ended September 30 helped by sale of investments.

The company had posted a net profit of Rs 37.33 crore in the year-ago period.

Total income from operations declined 18.67 per cent to Rs 605.73 crore during the said quarter compared with Rs 744.79 crore a year earlier, Indiabulls Real Estate said in a filing to BSE.

The company recorded gains of Rs 51.34 crore from sale of investments in the quarter under review.

The stock was trading at Rs 69.75 on BSE, down 1.76 per cent.

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