Oberoi Realty shares jump 7%, hit 52-week high after Q4 net profit rises 68% YoY
Shares of Oberoi Realty jumped 7% to hit a 52-week high of Rs 1,629 in Wednesday's trade on BSE after the realty developer reported a 64% year-on year (YoY) rise in net profit at Rs 788 crore for the quarter ended March.
In the corresponding quarter, the company posted a net profit of Rs 480.3 crore. Its revenue from operations increased by 36.8% to Rs 1,314.8 crore compared to Rs 961.4 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA stood at Rs 788.6 crore in the fourth quarter of this fiscal over Rs 368 crore in the corresponding period in the previous fiscal. The EBITDA margin stood at 60% in the reporting quarter versus 38.3% in the year-ago period.
The board has declared a third interim dividend of Rs 2 per equity share i.e. 20% of the face value of equity shares of Rs 10 each in respect of the fourth quarter of the financial year ended March 31, 2024.
The record date for payment of the interim dividend is May 23, 2024. The dividend will be paid starting from May 29.
Also, the board has recommended a final dividend of Rs 2 per equity share i.e. 20% of the face value of equity share of Rs 10 each for the financial year ended March 31, 2024.
Also Read: Cipla promoters sell 2.53% stake for around Rs 2,600 croreAt 11:38 am, the scrip was trading 3.6% higher at Rs 1,577 on BSE. In the last one year, the stock has surged 92%.
Meanwhile, the company’s board of directors has passed enabling resolutions for an issue of non-convertible debentures (NCDs) and Qualified
