Oberoi Realty shares plunge over 6% as Q4 profit falls

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New Delhi | Updated: May 2, 2016 4:49:21 PM

Oberoi Realty shares slipped as much as 6.39 per cent in morning trade on Monday after the real estate major on Friday registered a 37.34 per cent fall in consolidated net profit at Rs 64.55 crore for the quarter ended March 2016.

Oberoi Realty, BSE SensexAt 11.33 am, shares of Oberoi Realty were trading 4.06 per cent down at Rs 268 on BSE.(Photo: Reuters)

Oberoi Realty shares slipped as much as 6.39 per cent in morning trade on Monday after the real estate major on Friday registered a 37.34 per cent fall in consolidated net profit at Rs 64.55 crore for the quarter ended March 2016.

It had posted a net profit of Rs 103.02 crore in the same period a year ago.

At 11.33 am, shares of Oberoi Realty were trading 4.06 per cent down at Rs 268 on BSE. The scrip opened at Rs 271.80 and has touched a high and low of Rs 271.80 and Rs 261.50, respectively, in trade. Later, the share price of the company settled 2.33 per cent down at Rs 272.85.

Consolidated gross sales of Oberoi Realty slid 33.58 per cent year-on-year (yoy) to Rs 224.89 crore.

For the financial year ended March 2016, Oberoi Realty’s net profit rose by 34.31 per cent to Rs 425.91 crore compared with Rs 317.12 crore a year ago. Consolidated gross sales of the company grew 53.66 per cent yoy at Rs 1,399.71 crore.

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