Pulse Investments Profit Falls In March Quarter As Revenue Slumps

Pulse Investments posted lower profit for its third quarter, even with further gains coming from its investment property holdings.

For the three months ended March 31, profit came in at about $120.6 million, compared with $155.6 million in the same quarter a year earlier.

Operating revenue also weakened, falling roughly 65 per cent to $41.5 million. Across the nine months, Pulse reported total profit of $371 million, a year-over-year decline of about 24 per cent.

The company, active in media, hospitality and real estate development, still depends heavily on its property portfolio to help drive overall performance.