Parsvnath Developers Q3 net down 28%

Real estate major Parsvnath Developers today reported a 28% decline in net profit to Rs 22.54 crore for the quarter ended December 31, 2011.

The company had posted a net profit of Rs 31.37 crore for the same quarter last fiscal.

Its total revenue, however, increased to Rs 239.62 crore in the quarter under review from Rs 224.35 crore in the year-ago period, a rise of 6.8%.

The company's shares closed at Rs 61.95 apiece on the BSE today, down 1.2% from their previous close.