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India Earnings - Parsvnath Developers | Negative Report Card

By Abhishek on 10:35 AM

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Parsvnath Developers : One of the leading real estate development companies in India, on a consolidated basis reported a 78.69% decline in net profit of Rs 219.06 million for the second quarter ended Sep. 30, 2008 as compared to Rs 1,027.73 million for the quarter ended Sep. 30, 2007.

Total Income has decreased 45.15% from Rs 4,127.06 million for the quarter ended Sep. 30, 2007 to Rs 2,263.58 million for the quarter ended Sep. 30, 2008.

Standalone:

The company on a standalone basis, announced a substantial drop in net profit for the quarter ended September 2008. During the quarter, the profit of the company declined 77.31% to Rs 228.59 million from Rs 1,007.38 million in the same quarter, previous year.

Net sales declined 45.39% to Rs 2,169 million, while total income for the quarter fell 45.60% to Rs 2,218.09 million, when compared with the prior year period.

The company posted earnings of Rs 1.24 a share during the quarter, registering 77.25% decline over previous year period.



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