Moneycontrol Bureau
Pune-based real estate developer Kolte-Patil Developers' second quarter (July-September) net profit fell 60.55 percent to Rs 12.7 crore on lower revenue and higher employee cost. Profit in the year-ago period was Rs 32.2 crore.
Net sales declined 16.4 percent to Rs 156.7 crore in the quarter ended September 2014 compared to Rs 187.4 crore in same quarter last year.
In Q2FY15, employee cost more than doubled to Rs 11.2 crore from Rs 5.4 crore year-on-year while other income dropped sharply from Rs 5.3 crore to Rs 1.96 crore during the same period.
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