Sri Lotus Developers Sees Profit Dip Despite Revenue Rise

Sri Lotus Developers and Realty Ltd reported an 8% decline in its net profit to Rs 46.36 crore for the September quarter, despite a rise in total income. The Mumbai-based company has completed several projects and has many ongoing and upcoming developments in the pipeline.

Sri Lotus Developers and Realty Ltd has witnessed an 8 per cent decline in its consolidated net profit, hitting Rs 46.36 crore in the September quarter. This compares to Rs 50.47 crore reported during the same period last year.

Despite the slump in profits, the Mumbai-based realty firm's total income increased significantly to Rs 188.81 crore in the July-September period, up from Rs 125.08 crore a year ago, according to a regulatory filing.

The company has successfully completed four projects spanning over 4.2 lakh sq ft of carpet area, with six ongoing and 12 upcoming projects covering a combined 27.6 lakh sq ft of carpet area and about 20.5 lakh sq ft of saleable area.

(With inputs from agencies.)