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

Shares of Indiabulls Real Estate Ltd on Tuesday tumbled over 5 per cent after the firm posted a consolidated net loss of Rs 76.01 crore for the quarter ended September.

Shares of Indiabulls Real Estate Ltd on Tuesday tumbled over 5 per cent after the firm posted a consolidated net loss of Rs 76.01 crore for the quarter ended September. On BSE, the scrip fell 5.21 per cent to close at Rs 60.05. During the day, it touched a low of Rs 59.8.

Similarly, on NSE, shares of Indiabulls Real Estate closed at Rs 59.85, down 5.38 per cent. Intra-day, the scrip touched a low of Rs 59.75. In terms of traded volume, 11.96 lakh shares of Indiabulls Real Estate were traded on BSE and 81.91 lakh scrips on NSE during the day.

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.

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