Indiabulls Real Estate Q1 net jumps threefold

Indiabulls Real Estate today reported an over three-fold jump in its consolidated net profit at Rs 65.99 crore for the quarter ended June 30.

The company had posted a net profit of Rs 20.55 crore in the corresponding period last year, Indiabulls Real Estate said in a filing to the Bombay Stock Exchange (BSE).

The net sales during the first quarter also increased by 40.91% to Rs 241.92 crore from Rs 171.68 crore during the same period a year ago, it added.

Shares of the company toady closed 2.25% down at Rs 114.90 apiece on the BSE.