DB Realty net down 98% at Rs 21 lakh

Company's tax expenses went up 10 times during Q3FY13 at Rs 15 cr as compared to the Rs 1.48 cr it paid in Q3FY12

DB Realty posted a net profit of Rs 21 lakh in the Q3 of financial year 2013 as compared to Rs 11.73 crore in the corresponding period of FY 2012.

The company's tax expenses went up 10 times during the Q3 of FY 2013 at Rs 15.35 crore as compared to Rs 1.48 crore it paid in the Q3 of FY 2012. DB Realty's interest charges doubled to Rs 7 crore in Q3 of FY 2013 as compared to Rs 3 crore in the Q3 of FY 2012.

DB Realty's net sales went up 19 per cent during the quarter at Rs 124.56 crore as compared to Rs 104.80 crore in Q3 of FY 2012.

"The last quarter has seen good pick up in sales combined with higher per sq ft realization. We have also made good progress in getting key approvals for our about to be launched projects. Our endeavor would be to maintain the same momentum.”said Vipul Bansal, CEO of the company.