Omaxe Q1 Review: Loss Widens Rs 147.44 Crore Due To Higher Expense
The higher expense happened due to higher cost of land, material consumed, construction works, and other project related expenses, the company said in an exchange filing on Wednesday.
Omaxe Ltd. reported Rs 147.44 crore consolidated net loss for the quarter ended in June of the fiscal year 2025. Its net profit a year ago was at Rs 106.32.
The realty firm's net loss widened as the expense increased during the quarter. The total expense rose 53.92% on the year to Rs 542.40, from Rs 352.39. This increase happened due to higher cost of land, material consumed, construction works, and other project related expenses, the company said in an exchange filing on Wednesday.
Omaxe's revenue during the period jumped 74.43% on an annualised basis to Rs 385.23 crore, from Rs 220.85 crore.
Omaxe is one of the leading real estate developers in the country. It has a presence in Delhi-NCR, Punjab, Haryana and Uttar Pradesh.
(With inputs from PTI.)
