DB Realty Ltd on Saturday reported a sharp decline in consolidated net profit at Rs 11.73 crore for the quarter ended December, compared with Rs 108.69 crore in the year-ago period. The company said rising input costs and interest rates had adversely affected the sector.
During the quarter, DB Realty reconstituted its board. Vinod Goenka took over as executive chairman and managing director. The company’s founder, Shahid Balwa, who was released on bail in November in the 2G case, took over as vice-chairman and managing director.
Jayvardhan Goenka and Salim Balwa have been appointed additional directors (non-independent), it added.
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