Aditya Birla Real Estate Reports Q1 Loss Amid Revenue Decline

Aditya Birla Real Estate Ltd (ABREL) has announced a challenging start to the fiscal year, recording a consolidated net loss of Rs 27.08 crore for the first quarter, a stark contrast to the net profit of Rs 17.35 crore it enjoyed in the same period last year.

The company's total income took a significant hit, dropping to Rs 157.41 crore from Rs 365.24 crore recorded in the April-June period of the previous year, as per details in a recent regulatory filing.

This financial turbulence follows ABREL's strategic divestment, where it sold its pulp and paper business, a move that pivots the company's focus towards real estate development.

(With inputs from agencies.)