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Brigade Q1 net profit up 33% at Rs 30 cr

Press Trust of India  |  New Delhi 

Realty firm Ltd today reported a 33 per cent increase in consolidated net profit at Rs 30 crore for the first quarter ended June 30, 2017.

Its net profit stood at Rs 22.56 crore in the year-ago period, Bengaluru-based developer said in a regulatory filing.

Total rose to Rs 564.72 crore in the first quarter of this fiscal from Rs 466.30 crore in the corresponding period of the previous year.

"Despite subdued market conditions, we have continued to perform well. The positive disruptions in the market i.E implementation of and RERA is a step in the right direction by the which will provide the necessary impetus for growth of the economy, which in turn will propel demand in the real estate sector," company's CMD M R Jaishankar said.

He said the company would scale up performance in all domains of real estate that it operate in.

Brigade had raised Rs 500 crore through qualified institutional placement (QIP) in April this year.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 08 2017. 19:28 IST