Oberoi Realty shares tank nearly 7% as Q4 profit falls

Shares of Oberoi Realty today fell by nearly 7 per cent after the company reported a 37 per cent plunge in consolidated net profit for March quarter.
The stock declined by 6.64 per cent to Rs 261.20 at NSE.
On BSE, it slumped 6.38 per cent to Rs 261.50.
Oberoi Realty on Friday reported a 37 per cent plunge in consolidated net profit to Rs 64.55 crore for March quarter due to lower sales.
It had posted a net profit of Rs 103.02 crore in the year-ago period.
Income from operations fell by 34 per cent to Rs 226.72 crore in January-March as against Rs 344.71 crore in the corresponding quarter of the previous year, the Mumbai-based developer had said in a regulatory filing.

For the full fiscal, Oberoi Realty's net profit rose by 34 per cent to Rs 425.91 crore compared with Rs 317.12 crore a year ago.
Income from operations grew by 53 per cent to Rs 1,408.09 crore from Rs 922.67 crore in 2014-15.