NCR-based real estate developer Omaxe Ltd on Thursday reported 14 per cent fall in net profit at ₹13.92 crore in the third quarter of financial year 2014-15 compared with ₹16.25 crore in the corresponding period last year.
The total income of the company fell 10 per cent at ₹307.71 crore in the third quarter of financial year 2014-15 compared with ₹342.04 crore in the corresponding period last year.
On the company’s performance, Rohtas Goel, CMD, Omaxe Ltd, said, “Fresh bookings have slowed with 1.18 million sq. ft. of booking during the quarter ended December 31, 2014. Sales have not been on expected lines primarily due to a dull festive season on account of challenging economic scenario. Despite the formation of a stable Government and various reforms announced, demand remains subdued.”
The shares of the company ended 2.21 per cent higher at ₹129.65 at the BSE on Thursday.