Bangalore headquart-ered real estate developer, Brigade Enterprises has posted a 15 per cent drop in its net profit at Rs 27.24 crore in the fourth quarter of last financial year as compared with Rs 31.95 crore reported earlier. The dip in net profit is attributed to drop in sales numbers of the company in the fourth quarter.
Net sales of the developer declined by around 37.5 per cent to Rs 83 crore during this period. Operating profit of the company also decreased by around 72 per cent to Rs 7.94 crore during this period.
On annual basis, the developer has posted a 2.5 times rise in its net profit to Rs 120.52 crore in the last financial year as compared with Rs 47.32 crore reported in the same period last year. Net sales of the company rose by around 30 per cent to Rs 460.81 crore in FY11 as compared with Rs 354.85 crore reported an year earlier.
Operating profit of the company increased by 2.8 times to Rs 131.65 crore as compared with Rs 47 crore reported an year ago.
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