new delhi aug 14 realty firm omaxe ltd on wednesday reported a 83 per cent rise in consolidated net profit at rs 1622 crore for the first quarter ended june 30 2019 on sharp jump in sales it had posted a net profit of rs 885 crore in the yearago period total income rose 97 per cent to rs 35856 crore during apriljune quarter of 201920 from rs 18248 crore in the corresponding period of the previous year the company said in a regulatory filing the economy as a whole has been facing some headwinds both cyclical and structural in nature as a result the economy is not growing at a pace which was expected earlier omaxe cmd rohtas goel said in a statement in the recent monetary policy announcement even the reserve bank of india has revised the growth projection for the current fiscal downward to 69 per cent the real estate sector being the critical claw in the economy is also finding the going tough he said stating that the real estate sector is facing liquidity crunch he said the government should take some some measure to ensure funding for the sector such as creation of stress fund for stalled projects goel said the reserve bank has reduced repo rate four times in succession during this year but benefits have not been passed on by commercial banks to consumers effective transmission will help the economy and the real estate sector he added mjh rvk