Equinox India Q1 Results: Loss Narrows To Rs 28 Crore

Equinox India Developments Ltd. posted a net loss in the first quarter of this financial year. The real estate firm, earlier known as Indiabulls Real Estate, reported a net loss of Rs 28 crore for the quarter ended June, compared to a loss of Rs 679 crore in the same quarter of the previous fiscal year, according to its stock exchange notification on Wednesday.

Revenue increased 98% year-on-year for the three months ended June, reaching Rs 387 crore in comparison to Rs 196 crore in the same period in the fiscal ended March 2024.

The board reappointed K.G. Krishnamurthy as non-executive chairperson and independent director for five years, with effect from Nov. 9, 2024. Sachin Shah was reappointed as executive director.

Shares of the company closed 2.17% lower at Rs 129.40 per share, compared to a 0.02% advance in the NSE Nifty 50. The stock has risen 47.38% year-to-date and 99.38% over the past 12 months.