Oberoi Realty tumbled 3.03% to Rs 533.5 at 9:32 IST on the BSE after consolidated net profit dropped 50.9% to Rs 152.07 crore on 32.1% decline in net sales to Rs 603.25 crore in Q1 June 2019 over Q1 June 2018.
The result was announced after market hours on Wednesday, 24 July 2019.
Meanwhile, the S&P BSE Sensex was up by 309.3 points or 0.82% to 38,156.21.
On the BSE, 17000 shares were traded in the counter so far compared with average daily volumes of 29000 shares in the past two weeks. The stock had hit a high of Rs 535.65 so far during the day. The stock had hit a low of Rs 512 so far during the day. It hit a 52-week high of Rs 641.7 on 4 July 2019 and a 52-week low of Rs 351.75 on 5 October 2018.
In a separate announcement, the company reported that its independent director, Anil Harish has resigned from the post citing personal reasons with effect from 24 July 2019.
Oberoi Realty is India's leading real estate development company, headquartered in Mumbai.
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