Prestige Estates Q3 Results: Profit Falls 85%

Prestige Estates Projects Ltd.'s consolidated net profit fell 85% in the third quarter of the current financial year.

The real-estate developer's profit declined to Rs 17.70 crore in the quarter ended December, in comparison to Rs 116.30 crore in the year-ago period, according to an exchange filing on Thursday.

• Revenue down 7.9% to Rs 1,654.50 crore versus Rs 1,795.80 crore.

• Ebitda up 7% to Rs 590.10 crore versus Rs 551.50 crore.

• Margin at 35.7% versus 30.7%.

• Net profit down 85% to Rs 17.70 crore versus Rs 116.30 crore.

Shares of Prestige Estates closed 1.64% higher at Rs 1,342.35 apiece on the NSE, as compared to a 0.37% advance in the benchmark Nifty 50.

(This is a developing story).