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Arvind Infrastructure announces Q2FY15-16 results

India Blooms News Service | | Nov 10, 2015, at 04:52 am

#Arvind Infrastructure # Q2FY15-16 results

Ahmedabad, Nov 9 (IBNS): Arvind Infrastructure Limited, one of the emerging real estate players in the Real Estate Development space, has recorded a decline in the consolidated revenue to Rs. 7.87 crores for the quarter ended 30th September 2015, as against Rs.19.67 crores in the corresponding quarter of the previous year.

Consolidated EBIDTA is at Rs.1.61 crores as compared to Rs.2.79 crores in the corresponding quarter of the previous year.

The Company has posted net loss of Rs. 0.30 crores for the quarter ended 30th September, 2015 as compared to a loss of Rs. 0.57 crores in the corresponding quarter of the previous year.

Commenting on the results as well as outlook of the Company, Kamal Singal, Managing Director & CEO said: "The performance of the Company for the first half of the year is in line with our expectation despite various challenges faced by the real estate industry mainly because of subdued market conditions. We anticipate the market sentiments to improve over a period of time and the company is expected to perform better in the second half as compared to first half of the current financial year."

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