Emami Realty Struggles with Increased Losses in Q4 2023

Emami Realty reported a consolidated net loss of Rs 70.38 crore for the quarter ending in March 2023, compared to a Rs 15.30 crore loss in the same period last year. The company’s total income fell from Rs 45.61 crore to Rs 29.97 crore. Over the fiscal year 2023-24, the net loss was Rs 122.93 crore.

Emami Realty on Thursday reported a consolidated net loss of Rs 70.38 crore in the quarter ended March on higher expenses.

Its net loss stood at Rs 15.30 crore in the year-ago period.

Total income fell to Rs 29.97 crore in the fourth quarter of the last fiscal from Rs 45.61 crore in the corresponding period of the previous year, according to a regulatory filing.

During 2023-24 fiscal, the company's net loss stood at Rs 122.93 crore as against a loss of Rs 38.63 crore in the preceding year.

Total income also declined to Rs 99.32 crore in the last fiscal from Rs 131.29 crore in the 2022-23 fiscal. Emami Realty is part of business conglomerate Emami Group.