Omaxe Q3 net profit up 50% at Rs 29 cr

Realty firm Omaxe today reported nearly 50% increase in consolidated net profit at Rs 28.85 crore in the third quarter of this fiscal.

The company had posted a profit of Rs 19.31 crore in the year-ago period.

Total income from operations rose by 25% to Rs 567.93 crore during October-December quarter of 2012-13 fiscal from Rs 456.05 crore in the corresponding quarter of previous fiscal.

Commenting on the results, Omaxe Chairman and Managing Director Rohtas Goel said the company's turnover and net profit has grown on the back of robust sales and new launches during the third quarter.

The company's debt has come down to less than Rs 1,000 crore as on December 31, Goel told PTI.

Omaxe, which has presence in 39 cities across India, is currently working on 44 real estate projects, of which 19 are integrated townships, 16 group housing and 9 shopping malls, commercial complexes/hotel projects.

There are 10 ongoing projects in the infrastructure segment that comprises EPC contracts, roads & bridges, construction having book value of Rs 1,018 crore.