Omaxe Q1 results: Net loss widens to ₹ 147.44 crore on rise in expenses

Business: Realty firm Omaxe Ltd has reported a consolidated net loss of Rs 147.44 crore in the first quarter of this fiscal due to higher expenses. The company’s net loss was Rs 106.32 crore in the same period a year ago. According to a regulatory filing on August 13, total income increased to Rs 385.23 crore in the April-June period of this fiscal from Rs 220.85 crore in the same period last year. Total expenses increased to Rs 542.40 crore in the quarter under review from Rs 352.39 crore a year ago. Omaxe is one of the leading real estate developers in the country. It has presence in Delhi-NCR, Punjab, Haryana and Uttar Pradesh.