Indiabulls Housing F Q3 net profit down 33.59% at Rs 250.50 cr
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The company reported standalone net profit of Rs 250.50 crore for the quarter ended December 31, 2020 as compared to Rs 377.23 crore in the same period last year, registering a year-on-year decline of 33.59 per cent. Net revenue of the company declined substantially by 25.55 per cent at Rs 2,213.66 crore in October-December quarter of this fiscal as against Rs 2,973.50 crore in the corresponding period last year.
During October-December quarter, operating expenses dropped by 51.53 per cent to Rs 317.30 crore from Rs 654.61 crore in year ago period. Other Income grew by 17.42 per cent at Rs 3.10 crore versus (Dec'19 Rs 2.64 crore). Operating Profit slipped by 18.22 per cent to Rs 1,896.36 crore as against Rs 2,318.89 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 9.85 per cent in December quarter. Interest declined by 17.93 per cent y-o-y to Rs 1,547.19 crore, while Taxation increased by 89.23 per cent at Rs 77.64 crore (Dec'19 Rs 41.03 crore).
