Indiabulls Real Estate shares hit 52-week low, down 15% in two sessions

Shares of Indiabulls Real Estate fell for the second straight session today after the firm reported widening of loss to Rs 237 crore in the December quarter against Rs 87.22 crore loss in the corresponding quarter of the previous fiscal. Indiabulls Real Estate stock crashed to a fresh 52-week low of Rs 53.75, down 10.94% against the previous close of Rs 60.35 on BSE. The share has lost 15% in the last two sessions.

In a year, the stock has tanked 56% and crashed 32.33% since the beginning of this year. Total 16.79 lakh shares of the firm changed hand amounting to a turnover of Rs 9.50 crore. Market cap of the firm fell to Rs 2973.80 crore on BSE.   Indiabulls Real Estate shares are trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock hit a 52 week high of Rs 136.95 on February 14, 2022.

EBITDA fell 334% to a loss of Rs 245.44 crore in Q3 against Rs 56.47 crore loss in the quarter ended December 2021.

Net sales slipped 58.8% to Rs 133.00 crore in December 2022 quarter from Rs. 322.82 crore in December 2021 quarter.

During the April-December period of 2022-23 fiscal, the company's net loss stood at Rs 231.81 crore as against a net loss of Rs 76.53 crore in the year-ago period.

Total income fell to Rs 515.55 crore in the first nine months of this fiscal from Rs 1,268.87 crore in the year-ago period, the Mumbai-based real estate firm said. 

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