Indiabulls Real Estate suffers consolidated net loss of Rs 109.70 cr for Q4FY20
New Delhi: Indiabulls Real Estate Ltd suffered a consolidated net loss of Rs 109.70 crore for the fourth quarter of the 2019-20 fiscal against a net profit of Rs 108.60 crore in the same quarter of the previous fiscal. The consolidated revenue from operations declined by a whopping 93 percent to Rs 116.29 crore in the fourth quarter of 2019-20 fiscal as compared to Rs 1,821.54 crore in the corresponding quarter of the previous fiscal.
The consolidated net profit of the company for the entire fiscal 2019-20 dropped by a massive 76 percent to Rs 121.10 crore as compared to Rs 504.31 crore in the previous fiscal. The revenue from operations for the entire 2019-20 fiscal dropped 33 percent to Rs 3,270.78 crore as compared to Rs 4,943.88 crore in the previous financial year, the company said in a regulatory filing.