Nirlon Limited Reports 51% Decline in Q2 Net Profit
1 report, 1 independent
Updated Mon 00:00
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What happened
Nirlon Limited reported that its net profit for the second quarter of the current financial year fell 51.3 per cent year-on-year, reaching Rs 71.9 crore. Despite this decline, revenue from operations increased 2.3 per cent to Rs 169.1 crore. The company's diluted earnings per share dropped to Rs 7.98 in the quarter under review.
From ianslive.in
Why it matters
The results show that while Nirlon Limited saw a slight increase in revenue, rising total expenses led to a significant drop in net profit and earnings per share. This indicates pressure on profitability within the Mumbai real estate market.
From ianslive.in
Who's involved
- MumbaiLocation where Nirlon Limited operates
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The entities involved
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Mumbai
capital city in Maharashtra, India