Realty firm Shriram Properties has reported a 46 per cent decline in consolidated net profit to Rs 11.04 crore for the quarter ended June 30, mainly on higher expenses.
The company’s net profit stood at Rs 20.59 crore in the year-ago period.
Total income, however, rose marginally to Rs 271.04 crore in the first quarter of this fiscal from Rs 261.54 crore in the corresponding period of the preceding year, according to a regulatory filing on Wednesday.
The company’s operational expenses and tax outgo increased during the April-June quarter while it also posted a loss in joint venture projects.
On operational performance, Shriram Properties posted a 10 per cent increase in sales bookings to Rs 484 crore during the first quarter of this fiscal.
“We have commenced FY27 on a strong note, with robust operational performance and encouraging customer response to our new launches across Chennai and Kolkata,” Murali M, Chairman and Managing Director of Shriram Properties, said.
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