DB realty today reported a consolidated net loss of Rs 10.28 crore for the quarter ended March 31 due to sales decline.
The company had clocked a net profit of Rs 10.37 crore in the same period year ago.
Total sales during January-March quarter of the 2014-15 fiscal declined to Rs 46.97 crore from Rs 89.78 crore in the year-ago period, the company said in a BSE filing.
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For the entire 2014-15 fiscal, the company's consolidated net profit sharply fell to Rs 56.79 lakh from Rs 11.54 crore in 2013-14. The sales during the last year also dipped to Rs 256.94 crore from Rs 318.20 crore.
"In this quarter we have been able to get a good traction on approvals fo our large, upcoming projects. The construction on all our projects has been paced," DB Realty CEO Vipul Bansal said.
Shares of the Mumbai-based realty developer closed at Rs 69.90 apiece on the BSE today.
