Arkade Developers reports 9.38% drop in Q2 FY25 net profit

15 Nov 2024 CW Team

Arkade Developers reported a 9.38% decline in net consolidated profit for the quarter ending September 30, 2024. Profit after tax stood at Rs 433.6 million in Q2 FY25, compared to Rs 478.5 million during the same period last year, according to the company’s filing with the BSE.

The company’s net consolidated total income also saw a 3.66% dip, reaching Ra 2.03 billion in Q2 FY25, down from Rs 2.11 billion in the corresponding quarter of FY24.

Promoter and CMD Amit Mangilal Jain stated, "We’ve lined up strategic launches for the next two quarters to maintain momentum. Our expansion into Eastern Mumbai suburbs and a robust pipeline of redevelopment projects will drive growth, supported by a strong balance sheet and healthy cash flows."

The board also approved the appointment of Sumesh Mishra as an additional director. In operational highlights, the company reported pre-sales of Rs 2.15 billion and collections of Rs 1.8 billion during the quarter.

(ET)

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