Kolte-Patil Developers at five-year high on robust Q3 earnings
Q3 consolidated net profit surged five-fold at Rs 38.86 crore on back of higher sales income.
Kolte-Patil Developers has soared 8% to Rs 136, its highest level since February 2008, after reporting almost five-fold jump in consolidated net profit at Rs 38.86 crore for the quarter ended December 31, 2012 (Q3) on back of higher sales income. The Pune-based real estate company had profit of Rs 6.29 crore in a year ago quarter.
“Total income from operations jumped 205% at Rs 225 crore from Rs 74 crore during the recently concluded quarter,” Kolte-Patil Developers said in a statement.
The stock opened at Rs 128 on NSE and has seen a combined 398,414 shares changing hands on the counter in opening deals on both the exchanges.