Realty firm Brigade Enterprises Ltd reported a 16 percent decline in its consolidated net profit at Rs 31.25 crore for the quarter ended December 31 on higher finance costs and tax expenses. Its net profit stood at Rs 37.36 crore in the year-ago period, Bengaluru-based Brigade Enterprises said in a regulatory filing. Brigade's income from operations rose by 41 percent to Rs 507.76 crore during the third quarter of this fiscal from Rs 360.17 crore in the corresponding period of the previous year.
The company's finance cost increased to Rs 46.59 crore from Rs 29.88 crore, while tax expense also went up sharply to Rs 26.54 crore from Rs 12.93 crore during the period under review. Besides Bengaluru, the company has projects in Chennai, Chikmagalur, Hyderabad, Kochi, Mangaluru and Mysore.
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