NEW DELHI: Arihant Superstructures has reported a drop of 65.49 per cent in its net consolidated profit during the quarter ended December 30, 2023. Its profit after tax stood at Rs 15.60 crore in Q3 FY24 as against Rs 19.94 crore it registered 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 119.46 crore in Q3 FY24, a growth of 3.70 per cent from Rs 115.20 crore it recorded in the similar quarter last year.
The board of directors considered and discussed the proposal to raise funds through issuance of non-convertible debentures (NCD) of value Rs 70 crore with ICICI Venture Fund Management for Arihant Superstructures.
It considered and discussed the proposal to grant corporate guarantee/be co- borrower for the proposal to avail term loan of Rs 140 crore by the subsidiary Arihant Ashiyana from HDFC Bank.
The board also considered and discussed the proposal to avail term loan of Rs 38.50 crore for Arihant Superstructures.
