BackOmaxe September quarter net profit down 21% at `18.15 crore
Omaxe's total income declined 21% to `365.45 crore in Q2 2013-14, against `461.64 crore year ago
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New Delhi: Real estate firm Omaxe Ltd on Tuesday reported 21% decline in consolidated net profit at ₹ 18.15 crore on lower sales for the second quarter ended 30 September 2013-14 fiscal. It had posted net profit of ₹ 22.98 crore in the July- September quarter of the previous fiscal, 2012-13.
Total income from operations fell by 21% to ₹ 365.45 crore in Q2 2013-14, as against ₹ 461.64 crore in the year-ago period, Omaxe said in a filing to the BSE.
Omaxe has presence in 30 cities across nine states. With about 84 million sq. ft of delivered space in both real estate and construction contracts, the company is developing 41 real estate projects—13 group housing, 19 townships, nine commercial projects.
Recently, Omaxe announced issue of 10 bonus shares to public shareholders for every 39 shares held by them in order to meet market regulator Sebi’s norm on minimum 25% public shareholding.
Promoters had 89.14% stake in Omaxe as on 31 March. After four-round of offer for sale (OFS), Omaxe is still required to increase public shareholding by about 4%.
Omaxe scrip closed at ₹ 119.65, down 0.50%, on BSE.
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