Indiabulls Q1 profit falls 4%

CORPORATE SCORECARD

Indiabulls Real Estate, backed by billionaire Lakshmi Mittal, said profit in the first quarter declined by 4 per cent.

Net income dropped to Rs 6.8 crore ($1.6 million) in the three months ended June 30, from Rs 7.08 crore a year earlier, the company said in a statement to the Bombay Stock Exchange. Revenue climbed to Rs 33.46 crore from Rs 20.69 crore.