Parsvnath, listed among Sebi's 'shell companies', posts Rs 26 crore loss in June quarter  

Realty firm Parsvnath Developers Ltd today reported Rs 26 crore loss for the quarter ended June, following the removal of trading curbs by the SAT yesterday.

Published: 13th August 2017 12:13 AM  |   Last Updated: 13th August 2017 02:48 AM   |  A+A-

SEBI  (File photo | Reuters)

SEBI (File photo | Reuters)

By PTI

NEW DELHI: Realty firm Parsvnath Developers Ltd today reported Rs 26 crore loss for the quarter ended June and the board approved raising up to Rs 1,000 crore through debentures.

Its net profit stood at Rs 5 crore in the year-ago period, the company said in a statement.

The company's revenue fell to Rs 53 crore in the first quarter of this fiscal from Rs 95 crore in the corresponding period of the previous year.

Parsvnath is among the companies facing probe by SEBI into suspected shell companies.

Yesterday, the Securities Appellate Tribunal (SAT) lifted the Sebi's restrictions on trading in shares of Parsvnath Developers and asked the regulator to hear them while probing their business operations.

 

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