Indiabulls Real Estate Q3 PAT up 64% yoy at Rs80.7cr

Indiabulls Real Estate reported 41.43% fall yoy in Dec-20 quarter consolidated revenues at Rs721.68cr. The lag effect of the COVID pandemic is still evident as the top line is still way away from pre-COVID levels. However, there has been a sharp sequential bounce.

For the Dec-20 quarter, the consolidated operating profits were up 6.34% at Rs125.64cr. This was on the back of lower land cost and lower miscellaneous expenses. Operating margin or OPM expanded from 9.58% in the Dec-19 quarter to 17.41% in Dec-20 quarter.

Consolidated Profit after tax (PAT) for the Dec-20 quarter was up 63.77% at Rs80.69cr on better operating metrics and a sharp fall in tax burden on a yoy basis. PAT margins expanded from 4.00% in Dec-19 to 11.18% in Dec-20.

Financial highlights for Dec-20 compared yoy and sequentially

Indiabulls Real Estate
Rs in Crore Dec-20 Dec-19 YOY Sep-20 QOQ
Total Income (Rs cr) ₹ 721.68 ₹ 1,232.26 -41.43% ₹ 20.15 3481.54%
Operating Profit (Rs cr) ₹ 125.64 ₹ 118.05 6.43% ₹ -45.72 N.A.
Net Profit (Rs cr) ₹ 80.69 ₹ 49.27 63.77% ₹ -76.02 N.A.

Diluted EPS (Rs) ₹ 1.77 ₹ 1.08 ₹ -1.67
OPM 17.41% 9.58% -226.90%
Net Margins 11.18% 4.00% -377.27%