Indiabulls Real Estate posts Rs 60 crore net loss in January-March quarter

Indiabulls Real Estate Ltd (IBREL) on Friday reported a consolidated net loss of Rs 59.80 crore for the quarter ended March, 2022.

The company had posted a net profit of Rs 94.41 crore in the year-ago period.

Total income fell to Rs 272.49 crore in the fourth quarter of FY22 from Rs 759.50 crore in the corresponding period of the preceding fiscal.

For the entire 2021-22 fiscal, the company's net loss stood at Rs 136.73 crore as against Rs 4.30 crore in the previous year.

Total income fell to Rs 1,541.36 crore in the 2021-22 fiscal from Rs 1662.05 crore in FY21.