Omaxe Q3 consolidated net up 50 per cent

Track2Realty: Omaxe has reported nearly 50 per cent increase in consolidated net profit at Rs 28.85 crore in the third quarter of this fiscal.

The company had posted a profit of Rs 19.31 crore in the year—ago period.

Total income from operations rose by 25 per cent to Rs 567.93 crore during October-December quarter of 2012-13 fiscal from Rs 456.05 crore in the corresponding quarter of previous fiscal.

Commenting on the results, Omaxe Chairman and Managing Director Rohtas Goel said the company’s turnover and net profit has grown on the back of robust sales and new launches during the third quarter.

The company’s debt has come down to less than Rs 1,000 crore as on December 31, 2012, Goel said.

The company at present has 10 ongoing projects in the infrastructure segment that comprises EPC contracts, roads & bridges, construction having book value of Rs 1,018 crore.