Unaudited Results for the Quarter & Half Year Ended 30 September 2013
MUMBAI, 13 August 2013Orbit Corporation Limited (“OCL”), a leading premium developer in the Mumbai Metropolitan Area with significant presence in niche and premium locations of South and South Central Mumbai, declared its unaudited financial results for the quarter & half year ended ...
MUMBAI, 13 August 2013
Orbit Corporation Limited (“OCL”), a leading premium developer in the Mumbai Metropolitan Area with significant presence in niche and premium locations of South and South Central Mumbai, declared its unaudited financial results for the quarter & half year ended 30 September 2013.
Key Financial Highlights
- Total income for Q2-FY14 stands at INR 350 mn, as compared to INR 241 mn in Q1-FY14
- EBITDA Margin for Q2-FY14 at (3.6%) as compared to EBITDA for Q1-FY14 at 8.7%
- PAT for Q2-FY14 stood at INR (261) mn as compared to INR (200) mn for Q1-FY14
- New Area sold in Q2-FY14 stands at 20,090 sft at value of INR 252 mn, as compared to 5,735 sft at value of INR
128 mn for Q1-FY14
Top Management’s Key View Points on Industry and Outlook
- Heavy interest burden still a concern for the industry
- Company has identified 6 of its ongoing project for debt reduction programme
- Company to strategically monetize certain investments to reduce debt
Orbit Corporation Limited (OCL)
(BSE: 532837; NSE: ORBITCORP; Reuters: ORCP.BO; Bloomberg: ORB@IN)
Forward Looking Statement
Certain statements in this document may be forward looking based on certain assumptions of future events over which the Company exercises no control. Hence this involves number of risks and uncertainties which could cause the actual results to differ materially from those that may be projected or implied by these forward looking statements. Such risks and uncertainties include, but are not limited to: our ability to manage growth, competition, attracting and retaining skilled professionals, time and cost overruns, regulatory approvals, market risks, domestic and international economic conditions, and changes in laws governing the company including the tax regimes and exchange control regulations.