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Shares of Oberoi Realty are trading higher by 10.60% at Rs 299 on the Bombay Stock Exchange (BSE) after the company posted a 34% jump in consolidated net profit at Rs 103 crore for the quarter ended March 31, 2015 owing to very good pick up in sales volumes across all projects last year and in the wake of new launches.
The company had reported consolidated net profit of Rs 77 crore for the corresponding quarter previous year.
Meanwhile, the consolidated revenue stood Rs 349 crore for March quarter 2015 as compared to Rs 228 crore in the same period last year and the consolidated profit after tax quoted at Rs 317 crore for FY15 as against Rs 311 crore for FY14.
Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said that our government’s endeavour to boost India’s ranking in the ease of doing business can be the catalyst to unlock the true development potential of the country. He also added that the project launch in Mulund received excellent response from customers which is very reassuring and reaffirms their trust in the company.
The stock opened at Rs 282.40, touched a high of Rs 304.25 on the BSE. A total of 52,561 shares changed hands on the BSE so far.
