Indiabulls Realty net rises 64% in Q3

Indiabulls Real Estate Ltd's consolidated net profit for the December quarter surged 63.8% on year to 805.9 mln rupees. In Jul-Sep, the company had reported a net loss of 761.38 mln rupees.

Revenue from operations for the quarter slumped 41.4% on year to 7.22 bln rupees. The company had reported a revenue of 201.49 mln rupees in Jul-Sep. The company's other income fell to 351.37 mln rupees from 854.46 mln rupees a year ago. In Oct-Dec, total expenditure, including finance cost, was at 6.49 bln rupees compared with 12.01 bln rupees a year ago. Finance cost declined to 530.98 mln rupees from 870.76 mln rupees a year ago. Operating margin expanded sharply to 17.86% in Oct-Dec from 10.17% a year ago. The tax outgo was at 269.86 mln rupees.