Realty firm Omaxe today reported 74.14 per cent fall in its consolidated profit after tax for the quarter ended March 31 at Rs 11.67 crore.

The company had posted a net PAT of Rs 45.12 crore in the corresponding period last year, Omaxe said in a statement.

The consolidated net sales during the fourth quarter, however, increased by 49.74 per cent to Rs 566.29 crore from Rs 378.19 crore in the year-ago period, it added.

For the entire 2010-11 fiscal, the consolidated PAT declined by 17.61 per cent to Rs 92.72 crore from Rs 112.54 crore in the previous fiscal.

The consolidated sales rose by 51.97 per cent to Rs 1,521.60 crore from Rs 1,001.22 crore in 2009-10, the statement said.

The company said its fall in PAT during the fourth quarter and fiscal was due to a one-time tax credit of Rs 22.30 crore that it had received during the same period last fiscal.

Commenting on its results, Omaxe Chairman and MD Rohtas Goel said: "Due to inflationary pressures and time overruns beyond control, the profitability margins for projects were low."

The company completed over 22 million sq ft of area during the fiscal and its sales stood at 9.76 million sq ft worth over Rs 1,700 crore.

Besides, the company had repaid debt of about Rs 580 crore during FY'11 to the banks and financial institutions, he added.

The shares of the company today closed 0.78 per cent up at Rs 128.50 apiece on the Bombay Stock Exchange.