Arkade Developers Sees 5% Dip in Q1 Profit Despite Revenue Growth
Arkade Developers reported a 5% drop in net profit to Rs 28.75 crore in Q1, despite a rise in income to Rs 165.22 crore. The company, headquartered in Mumbai, has completed 31 real estate projects spanning over 5.5 million square feet and is currently developing an additional 2 million square feet.
- Country:
- India
Realty firm Arkade Developers Ltd has reported a 5% decline in its consolidated net profit for the first quarter of this fiscal, posting Rs 28.75 crore in profits compared to Rs 30.21 crore during the same period last year.
Despite the dip in profits, Arkade saw a notable increase in total income, climbing to Rs 165.22 crore in the April-June quarter from Rs 125.51 crore in the prior year, as detailed in a regulatory filing released on Friday.
The Mumbai-based real estate giant, which has successfully completed 31 projects covering over 5.5 million square feet, is currently developing more than 2 million additional square feet of property.
(With inputs from agencies.)
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