Indiabulls Real Estate Q3 net dips 45%

Indiabulls Real Estate today reported a 45.46% decline in consolidated net profit for the quarter ended December 31, at Rs 41.78 crore.

The company had posted a consolidated net profit of Rs 76.61 crore in the corresponding period last financial year, Indiabulls Real Estate said in a filing to the Bombay Stock Exchange (BSE).

The net sales of the company also fell during the quarter by 10.81% to Rs 356.47 crore from Rs 399.66 crore in the year-ago period, it added.

The shares of the company today closed 1.97% up at Rs 64.65 apiece on the BSE.