Indiabulls Real Estate Ltd today reported a fall of 36.7 per cent in it’s consolidated net profit after taxes (PAT) at Rs 58.91 crore for the fourth quarter ended March 31, 2016, on the back of sharp rise in tax expenses and finance costs.
The consolidated PAT of the company stood at Rs 93.13 crore during the corresponding period a year ago, Indiabulls Real Estate Ltd said in a regulatory filing to the BSE on April 25, 2016. However, its consolidated total income grew by 8.6 per cent at Rs 684.63 crore during Q4 FY 16, as compared to Rs 630.70 crore during the same period last fiscal.
During the quarter under review, its finance costs rose to Rs 81.42 crore, from Rs 41.15 crore in the March quarter of FY 15. Further, tax expenses of the property developer increased to Rs 41.70 crore, during Q4 FY 16, as compared to Rs 9.28 crore during Q4 FY 15.
Meanwhile, shares of the company closed at Rs 56.10 apiece, down 2.18 per cent, from previous close on BSE.
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During the quarter under review, its finance costs rose to Rs 81.42 crore, from Rs 41.15 crore in the March quarter of FY 15. Further, tax expenses of the property developer increased to Rs 41.70 crore, during Q4 FY 16, as compared to Rs 9.28 crore during Q4 FY 15. 
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