Omaxe Ltd's Quarterly Loss Escalates Despite Revenue Surge

Omaxe Ltd, a prominent real estate developer, reported a significant rise in its net loss to Rs 239.66 crore for the September quarter, compared to Rs 84.35 crore last year. Despite the higher income of Rs 398.32 crore, the company's financial setback continues to expand.

Omaxe Ltd, a leading real estate developer, reported a steep rise in consolidated net loss for the quarter ended September, reaching Rs 239.66 crore. This marks a significant increase from the Rs 84.35 crore net loss recorded in the same period last year.

This widening of losses comes in spite of a noticeable rise in total income, which grew to Rs 398.32 crore in the second quarter of the current fiscal year, up from Rs 269.82 crore in the equivalent quarter of the previous fiscal year, as stated in a recent regulatory filing.

Omaxe Ltd remains a key player in the country's real estate sector, facing financial challenges despite achieving higher revenue figures.

(With inputs from agencies.)