Mumbai, November 17, 2018: Omaxe Limited, one of India’s leading Real Estate Development Company, headquartered in Delhi, has reported Consolidated Net Profit for the quarter ended 30th September 2018 at `10.91 cr, as compared to `8.84 cr in the quarter ended 30th June 2018, a hike of 23.42%.
Consolidated Income from Operations stood at `451.52 cr for the quarter ended 30th September 2018 as compared to `173. 53 in the quarter ended 30th June 2018, an increase of 160.2%.
For the half year ended September 30, 2018, the Consolidated Income from Operations stood at `625.05 cr. Consolidated PAT for the half year stands at `19.75 cr.
Financial Highlights
Particulars | Q2FY19 | Q1FY19 | % Change (Q-O-Q) |
Income from Operations | 451.52 | 173.53 | 160.20 |
EBIDTA | 50.31 | 48.98 | 2.72 |
PAT | 10.91 | 8.84 | 23.42 |
#The numbers for corresponding period are not presented being non-comparable due to application of IND-AS 115
All figures in the table are on a consolidated basis in ` crores, unless stated otherwise
Operational Highlights:
Management view on performance in Q2 FY19
Commenting on the Q2FY18 results, Mr. Rohtas Goel, Chairman & Managing Director, Omaxe Limited said:
The rising crude oil prices and depreciation of Indian Currency notwithstanding, Indian economy is showing signs of resilience. In Q1 FY19, the economy clocked an impressive growth of 8.2% and the momentum is likely to continue in the current fiscal. The mood is clearly visible in the performance of various sectors. Several of the blue-chips companies have reported decent set of numbers, indicating the economy on the recovery mode.
The real estate sector too was showing signs of recovery, but with hardening of interest rates over the last couple of quarters and liquidity crunch in the system especially NBFC space, the road to recovery has not been smooth. But with our track record of delivery and quality, we witnessed greater interest of the buyers during the quarter ended September 30, 2018. The company booked 0.7 mn sq.ft of space valued at INR 135 cr and delivered 0.58 mn. sq.ft at various locations put together.
Corporate CommIndia(CCI Newswire)
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