Kolte Patil Developers has reported net consolidated loss after tax of Rs 26.23 crore during the quarter ended September 30, 2023. It had registered loss after tax of Rs 6.88 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 204.86 crore in Q2 FY24, a growth of 48.70 per cent from Rs 137.77 crore in the similar quarter last year.During the six months ended September 30. 2023, the company has declared final dividend of Rs. 4 per equity share of Rs 10 each for the financial year ended March 31, 2023.
The company has acquired 500,000 equity shares of Rs 10 each, 366,074 redeemable preference shares of Rs 10 each and 28,65,363 of optionally convertible debentures of Rs. 10 each of Kolte-Patil Integrated Townships at an aggregated consideration of Rs. 57.78 crore on October 20, 2023. Consequent to purchase of this stake, Kolte-Patil Integrated Townships has become 100% wholly-owned subsidiary of the company.
During the period, the group has incorporated three new wholly-owned subsidiaries namely Vistacon Projects, Custard Real Estate and Castle Avenues Realty LLP.
As on September 30, 2023, its net worth stood at Rs 1,044.54 crore, debt-equity ratio was 0.86, current liability ratio was 0.63, total debts to total assets ratio was 0.20, operating margin was -4% and net profit margin was -13%, the company said in the regulatory filing.