Indiabulls Real Estate, one of the largest listed real estate companies in India, has announced a consolidated net profit of Rs 7.99 crore for the second quarter ended September 30, a 76.60% decline over the corresponding period a year-ago.

The company had a consolidated net profit of Rs 34.15 crore in the second quarter ended September 30, 2007.

The consolidated total Income has increased from Rs 78.21 crore for the quarter ended September 30, 2007 to Rs 143.82 crore for the quarter ended September 30, 2008. 

On a standalone basis, Indiabulls Real Estate posted a net profit of 6.87 crore for the quarter ended September 30, 2008 as compared to Rs 22.77 crore for the quarter ended September 30, 2007. 

While, the standalone total income has increased from Rs 37.34 crore for the quarter ended September 30, 2007 to Rs 49.61 crore for the quarter ended September 30, 2008. 

A leading stock analyst has recommended investors to book their losses and exit the stock. Although it is a good stock but the investors should exit because the outlook on the sector is not good.
 
The stock ended the day at Rs 118 on BSE, down 10% compared to previous close of Rs 131.