Tuesday, May 31, 2011

Omaxe net profit down by 74% and Parsvnath down 19%

              Delhi-based realty firm Omaxe Ltd has reported a 74.13% drop in net profit for the fourth quarter of fiscal 2011 at Rs. 11.67 crore, as against Rs 45.12 crore reported in the same quarter last year. Consolidated net profit for the year was 17.6% down to Rs. 92.7 crore, from Rs. 112.5 crore in the year ago period.
              Parsvnath Developers Ltd has reported a 19% drop in fourth quarter net profit at Rs. 28 crore, as compared to Rs. 34.71 crore in the corresponding period last year. Consolidated revenues for the quarter ended March 31, 2011 dropped 29.3% to Rs. 255 crore from Rs. 361 crore in the year ago period.