Oberoi Realty dips on disappointing Q2 results
The stock dipped 6% to Rs 285 on the NSE.
 "Oberoi Realty dips on disappointing Q2 results")
Oberoi Realty has dipped 6% to Rs 285 on the NSE after the company reported lower-than-expected 3% year on year (YoY) growth in consolidated net profit at Rs 72.44 crore for the quarter ended September 2015 (Q2FY16), despite of higher other income. The real estate company had recorded a profit of Rs 70.54 crore in the same quarter last year.
Total income from operations of the company during the quarter increased single digit by 1% YoY at Rs 189 crore against Rs 186 crore in the corresponding quarter of previous fiscal. Other income jumped three-fold to Rs 11.63 crore from Rs 3.85 crore during the quarter.
Analysts on an average had expected profit of Rs 95 crore and revenues of Rs 235 crore for the quarter.
The aggregate area booked for Q2FY16 was 0.63 lakh square feet (sq.ft.) as against 0.81 lakh sq ft in Q1FY16. The order book stands at Rs 2,723 crore as against Rs 2,701 crore at the end of Q1FY16.
Till 12:06 PM, a combined 207,860 shares changed hands on the counter on the NSE and BSE.
Total income from operations of the company during the quarter increased single digit by 1% YoY at Rs 189 crore against Rs 186 crore in the corresponding quarter of previous fiscal. Other income jumped three-fold to Rs 11.63 crore from Rs 3.85 crore during the quarter.
Analysts on an average had expected profit of Rs 95 crore and revenues of Rs 235 crore for the quarter.
The aggregate area booked for Q2FY16 was 0.63 lakh square feet (sq.ft.) as against 0.81 lakh sq ft in Q1FY16. The order book stands at Rs 2,723 crore as against Rs 2,701 crore at the end of Q1FY16.
Till 12:06 PM, a combined 207,860 shares changed hands on the counter on the NSE and BSE.