Indiabulls Real Estate  announced a sharp drop in standalone net profit for the quarter ended March 2014.  During the quarter, the profit of the company declined 19.78% to Rs 416.72 million from Rs 519.45 million  in the same quarter previous year.

Net sales for the quarter declined 20.54% to Rs 3,276.07 million, compared with Rs 4,122.97 million for the prior year period.

Earnings per share for the quarter stood at Rs 0.98, registering 16.24% decline over previous year period.

Quarterly Results - Standalone (Rs in mn)
As at	Mar - 14	Mar - 13	%Change
Net Sales	3,276.07	4,122.97	(20.54)
Net Profit	416.72	519.45	(19.78)
Basic EPS	0.98	1.17	(16.24)

Shares of the company gained Rs 1.45, or 2.36%, to trade at  Rs 63.00.  The total volume of shares traded  was  1,347,078 at the BSE (3.30 p.m., Wednesday).