New Delhi: Realty firm Omaxe on Tuesday reported a 21 per cent increase in consolidated net profit at Rs 24.35 crore for the quarter ended March 31 on higher sales.
The company had registered a net profit of Rs 20.24 crore for the corresponding period a year ago.
Income from operations rose 17 per cent to Rs 484.37 crore in the fourth quarter of last fiscal year as compared to Rs 413.65 crore in the corresponding period of the previous year, Omaxe said in a regulatory filing.
On an annual basis, the company's net profit rose 30 per cent to Rs 78.32 crore last fiscal year as compared to Rs 60.07 crore in fiscal year 2014-15.
Income from operations increased 17 per cent to Rs 1,667.78 crore in fiscal year 2015-16 from Rs 1,431.09 crore in the previous year.
"The overall economic environment continues to remain challenging. Though, some green shoots are visible, the growth of manufacturing and services sector is yet to pick up."
"As far as real estate sector is concerned, we are slowly witnessing some steady demand in the last few months. Within the real estate market, compared to major cities, the scenario is better in tier II and III cities," Omaxe CMD Rohtas Goel said.
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