Indiabulls Ventures standalone net profit declines 54.59% in Sept quarter Noor Arora Indiabulls Ventures has reported consolidated net profit growth of 60.6 percent quarter-on-quarter to Rs 1.40 billion, driven by strong business from broking and financing segments. Profit in previous quarter period stood at Rs 877 million, the company said. Consolidated revenue during the quarter increased 38.2 percent sequentially to Rs 4.76 billion with 20 percent QoQ growth in broking business and 46 percent in financing segment. EBITDA (earnings before interest, tax, depreciation and amortisation) surged 45.4 percent quarter-on-quarter to Rs 309.2 crore and margin expanded by 320 basis points to 64.9 percent in Q2FY19. However, at 14:51 hours IST, the stock price was locked in 5 percent lower circuit at Rs 374.90 despite strong earnings.
ARTICLE SOURCE: BS