Oberoi Realty lost 5.06% to Rs 194 at 12:30 IST on BSE after consolidated net profit fell 49.4% to Rs 68.06 crore on 40.7% decline in net sales to Rs 169 crore in Q3 December 2013 over Q3 December 2012.
The Q3 result was announced on Saturday, 1 February 2014.
Meanwhile, the S&P BSE Sensex was down 168.87 points or 0.82% at 20,344.98.
On BSE, so far 30,000 shares were traded in the counter as against average daily volume of 10,721 shares in the past one quarter.
The stock hit a high of Rs 201.25 and a low of Rs 192.10 so far during the day. The stock hit a record low of Rs 154 on 4 September 2013. The stock had hit a 52-week high of Rs 297 on 19 February 2013.
The stock had underperformed the market over the past one month till 31 January 2014, sliding 12.45% compared with the Sensex's 3.1% fall. The scrip had, however, outperformed the market in past one quarter, surging 8.47% as against Sensex's 3.07% fall.
The mid-cap company has equity capital of Rs 328.23 crore. Face value per share is Rs 10.
Commenting on the company's financial performance, Mr. Vikas Oberoi, CMD, Oberoi Realty said, "Domestic and global economic headwinds continue to be challenging. While business sentiments are likely to improve only after the results of the general elections, there will now also be opportunities for companies that have shown financial prudence and discipline. The recent Supreme Court order clearing the way for the development of our Mulund property is a great positive for Oberoi Realty".
Oberoi Realty said that the private forest issue relating to the Mulund property has been resolved in favour of the company by the order dated 30 January 2014 of the Supreme Court of India.
Oberoi Realty is a real estate developer headquartered in Mumbai.
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