Equinox India Developments Ltd. posted a net loss in the first quarter of this financial year. The real estate firm, earlier known as Indiabulls Real Estate, reported a net loss of Rs 28 crore for the quarter ended June, compared to a loss of Rs 679 crore in the same quarter of the previous fiscal year, according to its stock exchange notification on Wednesday.
Revenue increased 98% year-on-year for the three months ended June, reaching Rs 387 crore in comparison to Rs 196 crore in the same period in the fiscal ended March 2024.
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The board reappointed K.G. Krishnamurthy as non-executive chairperson and independent director for five years, with effect from Nov. 9, 2024. Sachin Shah was reappointed as executive director.
Shares of the company closed 2.17% lower at Rs 129.40 per share, compared to a 0.02% advance in the NSE Nifty 50. The stock has risen 47.38% year-to-date and 99.38% over the past 12 months.
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