Oberoi Realty Q4 profit falls 37% to Rs 65 cr

Oberoi Realty today reported a 37 per cent plunge in consolidated net profit to Rs 64.55 crore for March quarter due to lower sales.
It had posted a net profit of Rs 103.02 crore in the year-ago period.
Income from operations fell by 34 per cent to Rs 226.72 crore in January-March as against Rs 344.71 crore in the corresponding quarter of the previous year, the Mumbai-based developer said in a regulatory filing.
For the full fiscal, Oberoi Realty's net profit rose by 34 per cent to Rs 425.91 crore compared with Rs 317.12 crore.
Income from operations grew by 53 per cent to Rs 1,408.09 crore from Rs 922.67 crore in 2014-15.

Oberoi Realty also informed that its Board today passed an enabling resolutions to raise up to Rs 1,500 crore through issuance of non-convertible debentures on a private placement basis.
The board also approved issuance of equity shares and/or any other securities convertible into equity through public offers or private placement for an aggregate amount not exceeding Rs 750 crore, including premium.