Omaxe Ltd Reports Q1 Loss Amid Rising Expenses
Omaxe Ltd, a leading real estate developer in India, has reported a consolidated net loss of ₹147.44 crore for the first quarter of the current fiscal year, primarily due to increased expenses. This represents a larger loss compared to the ₹106.32 crore net loss recorded in the same period last year. Despite the financial setback, the company’s total income experienced a significant rise, reaching ₹385.23 crore during the April to June period, up from ₹220.85 crore in the corresponding quarter of the previous year. The increase in total income was overshadowed by a substantial rise in total expenses, which climbed to ₹542.40 crore from ₹352.39 crore year-on-year.
Omaxe Ltd continues to maintain a strong presence in key regions such as Delhi-NCR, Punjab, Haryana, and Uttar Pradesh. The company’s financial performance reflects the broader challenges faced by the real estate sector, including rising costs and market fluctuations. As Omaxe navigates these challenges, it remains focused on its strategic initiatives to enhance operational efficiency and drive growth in its core markets.
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