DB realty reported a consolidated net loss of Rs 10.28 crore for the quarter ended March 31 due to sales decline.
The company had clocked a net profit of Rs 10.37 crore in the same period year ago.
Total sales during January-March quarter of the 2014-15 fiscal declined to Rs 46.97 crore from Rs 89.78 crore in the year-ago period, the company said in a BSE filing.
For the entire 2014-15 fiscal, the company's consolidated net profit sharply fell to Rs 56.79 lakh from Rs 11.54 crore in 2013-14.
The sales during the last year also dipped to Rs 256.94 crore from Rs 318.20 crore.
"In this quarter we have been able to get a good traction on approvals fo our large, upcoming projects. The construction on all our projects has been paced," DB Realty CEO Vipul Bansal said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
