Indiabulls Real estate announced a sharp drop in standalone net profit for the quarter ended March 2014. During the quarter, the profit of the company declined 19.78% to Rs 416.72 million from Rs 519.45 million in the same quarter previous year.
Net sales for the quarter declined 20.54% to Rs 3,276.07 million, compared with Rs 4,122.97 million for the prior year period.
Earnings per share for the quarter stood at Rs 0.98, registering 16.24% decline over previous year period.
| Quarterly Results - Standalone (Rs in mn) | |||
| As at | Mar - 14 | Mar - 13 | %Change |
| Net Sales | 3,276.07 | 4,122.97 | (20.54) |
| Net Profit | 416.72 | 519.45 | (19.78) |
| Basic EPS | 0.98 | 1.17 | (16.24) |
Shares of the company gained Rs 1.45, or 2.36%, to trade at Rs 63.00. The total volume of shares traded was 1,347,078 at the BSE (3.30 p.m., Wednesday).
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