Puravankara net profit up 116% in Q1

Property developer Puravankara Ltd on Tuesday reported 116% rise in net profit at Rs 17 crore for the quarter ended June 30, 2017 compared with Rs 8 crore in the year ago quarter.The revenues for the quarter went up 11% to Rs 347 crore against Rs 312 crore in June quarter last year. EBITDA expanded by 16% to Rs 87 crore compared with Rs 75 crore for the June quarter on improved margins across different categories of projects. EBITDA margin improved to 25% from 24% in the year ago quarter.Collections for the quarter ended June 30, 2017 stood at Rs 281 crore. This excludes Rs 165 crore balance due from the Kochi project, received in July 2017. The company generated an operating surplus of Rs 100 crore for the quarter, before the payment of Rs 57 crore interest, the company said
Source: DH

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