Monday, February 1, 2016

Brigade Enterprises Q3 net drops 26%

Brigade Enterprises reported a 26% drop in net profit at Rs 40 crore for the third quarter of FY 2016 as compared to same period last financial year due to tough real estate market.

Consolidated Q3 Performance (Q3FY 2015-16 Vs Q3FY 2014-15)

Ø  Total Revenues stood at Rs 511.3 crores vis-a-vis Rs 367.7 crores, an increase of 39%

Ø  EBITDA stood at Rs 137.8 crores vis-a-vis Rs 124.5 crores, an increase of 11%.

Ø  EBITDA margin stood at 26.9% vis-à-vis 33.9%.

Ø  PBT stood at Rs. 66.9 crores vis-a-vis Rs. 67.1 crores, a decrease of 0.3%.

Ø  PAT stood at Rs. 40.3 crores vis-a-vis Rs. 54.2 crores, a decrease of 26%.

According to the company's statement leasing and hospitality segments contributed Rs. 51 crores and Rs. 47 crores respectively to the consolidated revenues for the third quarter of FY 16.

"Launches aggregating to 2.71 million sq. ft have been done in the first three quarters of FY2015-16, of which, the launches in the residential segment were 2.64 million sq ft," the company said. It plans to launch about 3 million sq. ft. within the next 2 quarters.