Indiabulls Real Estate Widens Loss In December Quarter As Income Falls

Indiabulls Real Estate Ltd. widened its net loss in the third quarter of this fiscal dragged by lower income.

The consolidated net loss stood at Rs 236.77 crore as compared with a net loss of Rs 87.04 crore in the year-ago period, according to a regulatory filing.

Total income also fell to Rs 148.47 crore in the third quarter of this fiscal year from Rs 355.59 crore in the corresponding period of the previous year.

During the April-December period of fiscal 2023, the company's net loss stood at Rs 231.81 crore as against a net loss of Rs 76.53 crore in the year-ago period.

Total income fell to Rs 515.55 crore in the first nine months of this fiscal from Rs 1,268.87 crore in the year-ago period, the Mumbai-based real estate developer said.