Mumbai (Maharashtra), Nov. 9 -- : Indiabulls Real Estate Ltd (IREL) has reported almost four-fold jump in its consolidated net profit to Rs 301 crore in the second quarter of current fiscal (Q2 FY20) from Rs 76 crore in Q2 FY19.
Expenses came down to Rs 733 crore from Rs 904 crore, leading to profit before tax of Rs 366 crore in the July to September quarter this year compared to Rs 137 crore in the corresponding quarter of previous fiscal.
Total revenues came in at Rs 1,102 crore versus Rs 1,060 crore. Earnings per share in Q2 FY20 work out to Rs 6.65 against Rs 1.68 in Q2 FY19.
IREL said it has made substantial progress to achieve zero net debt. It completed strategic divestment of its 50 per cent stake in the joint venture portfolio t...