Indiabulls Real Estate shares fall over 5% on weak quarterly result

NEW DELHI: Shares of Indiabulls Real Estate Ltd on Tuesday declined over 5 per cent in morning trade after the firm posted a consolidated net loss of Rs 76.01 crore for the quarter ended September. On BSE, the scrip fell 5.28 per cent to Rs 60.

Similarly, on NSE, shares of Indiabulls Real Estate dived 5.13 per cent to Rs 60.

The firm on Friday reported a consolidated net loss of Rs 76.01 crore for the quarter ended September.

It had posted a net profit of Rs 301.11 crore in the year-ago period.

Total income stood at Rs 50.70 crore in the second quarter of this fiscal, as against Rs 1,101.90 crore in the corresponding period of the previous year, according to a regulatory filing.