Oberoi Realty shares dip over 2% as Q4 profit falls

Shares of Oberoi Realty today settled over 2 per cent lower after the company reported a 37 per cent plunge in consolidated net profit for March quarter.
After falling 6.38 per cent to Rs 261.50 in intra-day, shares of the company later recovered some of the lost ground and ended at Rs 272.85, down 2.33 per cent on BSE.
At NSE, it settled with a loss of 2.26 per cent to close at Rs 273.45.
Company's market valuation fell by Rs 220.09 crore to Rs 9,257.91 crore.
Oberoi Realty on Friday 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 34 per cent to Rs 226.72 crore in January-March as against Rs 344.71 crore in the corresponding quarter of the preceding fiscal, the Mumbai-based developer had said in a regulatory filing.
For the full fiscal, Oberoi Realty's net profit rose 34 per cent to Rs 425.91 crore compared with Rs 317.12 crore a year ago.
Income from operations grew 53 per cent to Rs 1,408.09 crore from Rs 922.67 crore in 2014-15.