Oberoi Realty shares dip nearly 7 pc on muted growth in Q2

Shares of Oberoi Realty slumped nearly 7 per cent today after the company reported a marginal rise in net profit for the second quarter of 2015-16.
The stock tumbled 6.82 per cent to settle at Rs 282 on BSE. During the day, it plunged 7 per cent to Rs 281.30.
At NSE, shares of the company dipped 6.58 per cent to end at Rs 283.10.
The market valuation of the company dropped by Rs 700.38 crore to Rs 9,567.62 crore at close.
Oberoi Realty yesterday reported a marginal rise in consolidated net profit at Rs 72.44 crore for the quarter ended September 30. Its net profit stood at Rs 70.54 crore in the year-ago period, the developer had said in a statement.

Income from operations rose to Rs 189.21 crore during July-September quarter of the current fiscal from Rs 185.52 crore in the corresponding period of the previous fiscal.
The aggregate area booked for second quarter of this fiscal was 0.63 lakh sq ft as against 0.41 lakh sq ft booked in the same period last fiscal. The order book stands at Rs 2,723 crore as against Rs 1,528 crore at the end of April-September last fiscal.