Keystone Realtors Faces Profit Slide: A Detailed Look into Dec Quarter Losses

Keystone Realtors Ltd reported an 83% drop in net profit to Rs 5.08 crore for the December quarter, a significant fall from Rs 29.98 crore the previous year. Their total income for the third quarter also decreased to Rs 293.95 crore. The company's net profit for April to December declined to Rs 31.30 crore.

Keystone Realtors Ltd has reported an alarming 83% plunge in its consolidated net profit, bringing it down to Rs 5.08 crore for the December quarter, according to a recent regulatory filing.

This contrasts sharply with last year's December quarter profit of Rs 29.98 crore, and its total income also saw a decline, dropping to Rs 293.95 crore from Rs 485.82 crore in the equivalent period of 2022.

Over the nine-month period from April to December, Keystone Realtors recorded a net profit decrease to Rs 31.30 crore from the previous year's Rs 121.18 crore. The company is a prominent player in the Mumbai Metropolitan Region property market.

(With inputs from agencies.)