Kolte-Patil Developers Q3 net profit at Rs305.1mn

India Infoline News Service | Mumbai |

The company had a revenue growth of 205% for the quarter ended December 31, 2012.

Kolte-Patil Developers Ltd., a real estate developer with operations in Pune, Bengaluru and Mumbai has released outstanding Unaudited Financial Results for the Quarter ended December 31, 2012.
Sujay Kalele, Group CEO, Kolte-Patil Developers Ltd. said,we have posted a strong revenue growth based on the fact that our existing portfolio is dominated by the residential asset class, which meets the market demand.This complimented with a wide portfolio of residential projects appealing to every financial bracket.Also, cost control measures combined with good revenue realization per sq. ft. has helped us reap in good profit margins.
Consolidated Financial highlights:
For the quarter ended December 31, 2012
The company had a revenue growth of 205% for the quarter ended December 31, 2012. The revenue increased to Rs. 234.60 Croresin the third quarter of fiscal 2012-13 from Rs. 76.84Crores in the third quarter of previous fiscal. Pedestal on the robust sales growth, company’s Profit After Tax for the quarter has increased by 385% to Rs. 30.51 Crores compared to 6.29Crores for the corresponding quarter ended December 31, 2011. Earnings Per Share (EPS) for the third quarter is at Rs. 4.03which was Rs. 0.83in corresponding previous quarter.
For nine months of current year, total revenue is Rs. 536.49 Crores as compared Rs. 165.49 crores of corresponding 9 months of 2011, growth of 224%. Profit after tax for the nine months of the current year is Rs. 62.38 Crores as compared 20.71 Crores of last year nine months with growth of 201%.
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