Mumbai, May 22 Real estate firm Emami Realty Limited on Thursday reported a sharp fall in its financial performance for the March quarter (Q4 FY25), as its consolidated net loss widened more than four times to Rs 79.68 crore, compared to a loss of Rs 19.47 crore in the previous quarter (Q3 FY25).
The loss also deepened on a year-on-year (YoY) basis, with the company posting an annual net loss of Rs 126.25 crore in FY25, slightly higher than the Rs 123.10 crore loss in FY24, according to its stock exchange filing.
Revenue from operations fell by 76.12 per cent to Rs 13.66 crore in Q4 FY25, down from Rs 57.22 crore in the preceding quarter.
Compared to the same period last year (Q4 FY24), when revenue stood at Rs 17.45 crore, the decline was 21.72 per cent.
Total income of the company also saw a significant dip, falling 61.2 per cent to Rs 27.14 crore in Q4 FY25 from Rs 69.96 crore in Q3.
Additionally, expenses continued to rise. Total expenses in Q4 climbed to Rs 112.16 crore, a 16.9 per cent increase from Rs 95.94 crore in Q3.
On a full financial year basis, expenses went up by 5.5 per cent, reaching Rs 282.16 crore in FY25 from Rs 267.44 crore in FY24.
A major contributor to the rising costs was the project expenses, which jumped 78.12 per cent quarter-on-quarter (QoQ) to Rs 50.46 crore.
Other expenses also surged massively to Rs 66.44 crore in Q4, from just Rs 1.47 crore in the previous quarter -- a staggering rise of over 4,420 per cent.
The company, which is a part of the Emami Group, develops residential, commercial, and mixed-use properties across Indian cities including Mumbai, Kolkata, Chennai, Bhubaneswar, and Jhansi.
Meanwhile, the Board of Directors at its meeting held on May 22 also approved the appointment of MKB and Associates, a Kolkata-based firm of Practicing Company Secretaries, as Secretarial Auditors for a period of five years starting FY 2025-26.
“The appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM),” the company said in its regulatory filing.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor