IndiQube Faces Challenges Amid Higher Expenses and Rising Income

IndiQube Spaces Ltd reported a net loss of Rs 17.06 crore for December's quarter, an increase from Rs 13.72 crore a year earlier, due to higher expenses. Despite this, the firm's income rose to Rs 411.09 crore from Rs 280.48 crore, supported by its wide presence in 17 cities.

IndiQube Spaces Ltd, a prominent name in the co-working sector, has reported a consolidated net loss of Rs 17.06 crore for the quarter ending in December, citing increased expenses as a major factor. This is a climb from the Rs 13.72 crore loss reported in the same period last year.

Despite the rising losses, the company's total income saw a significant increase, reaching Rs 411.09 crore in the third fiscal quarter. This marks a notable rise from Rs 280.48 crore posted during the corresponding period of the previous year, as revealed in a recent regulatory filing.

IndiQube is a key player in the realm of managed office spaces, catering to startups, Global Capability Centers (GCCs), and major enterprises. With a substantial footprint across 17 cities, the company manages over 9.55 million square feet within its expansive portfolio.

(With inputs from agencies.)