Indiabulls Real Estate share plummets 11%
DSIJ Intelligence / 22 Jun 2017
Indiabulls Real Estate had reported a 19% increase in consolidated net profit at Rs 79.8 crore for the quarter ended March 2017.
Indiabulls Real Estate, major real estate player, has extended its morning’s losses during Thursday’s trading session, hitting an intraday low of Rs 174 per share, tanking nearly 11%.
In early morning trade, Indiabulls Real Estate was trading lower by 5.2% as the company’s 1.9 crore shares traded in a block deal on the NSE and BSE at an average of Rs 200 per share, worth Rs 385 crore.
The stock hit its 52-week high of Rs 217.80 per share on June 21, 2017, and hit its 52-week low of Rs 57, per share on November 22, 2016.
Its net profit stood at Rs 67.2 crore in the year-ago period, however, the company’s total revenue declined to Rs 545.2 crore in the fourth quarter of the last fiscal from Rs 735.1 crore in the corresponding period of the previous year.
Delivering 116% returns in a period of one year and has outperformed the BSE Mid-cap and BSE Realty indices over the same time span.
Indiabulls Real Estate had reported a 19% increase in consolidated net profit at Rs 79.8 crore for the quarter ended March 2017.
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