Indiabulls Real Estate net dips to Rs 6.87 crore

New Delhi, Oct 8: Indiabulls Real Estate Ltd on Wednesday, Oct 8 said it has posted a net profit of Rs 6.87 crore for the second quarter ended September, 2008 as compared to Rs 22.77 crore during the corresponding period last year, registering a sharp decline of 69.82 per cent.

However, the company's total income for Q2FY09 increased 32.86 per cent to Rs 49.61 crore as against Rs 37.34 crore in Q2FY08, it said in a statement. The Group's net profit for the quarter ended September 2008 stood at Rs 7.99 crore, whereas it was Rs 34.15 crore for the quarter ended September 2007, recording a 76.60 per cent decline.

Its total income, however, jumped 83.88 per cent to Rs 143.82 crore for Q2FY09 as against Rs 78.21 crore for Q2FY08.

UNI