Brigade Enterprises Shares Hit Record After Threefold Profit Rise
The company's consolidated net profit surged 234.22% year-on-year to Rs 210.9 crore in the January-March period, beating Bloomberg estimate of Rs 89.7 crore.
Shares of Brigade Enterprises Ltd. rose to their highest level since listing on Wednesday, after its profit more than tripled in the fourth quarter of fiscal 2024.
The company's consolidated net profit surged 234.22% year-on-year to Rs 210.9 crore in the January-March period, according to an exchange filing. According to analysts polled by Bloomberg, the net profit is estimated at Rs 89.7 crore.
Brigade Enterprises Q4 Results: Highlights (Consolidated, YoY)
Revenue up 102.04% to Rs 1,702 crore. (Bloomberg estimate: Rs 1,159 crore).
Ebitda up 114.24% to Rs 432.7 crore. (Bloomberg estimate: Rs 286 crore).
Margin expanded 144 bps at 25.41%. (Bloomberg estimate: 24.7%).
Net profit up 234.22% to Rs 210.9 crore. (Bloomberg estimate: Rs 89.7 crore).
Board recommended final dividend of Rs 2 per share.
.png?auto=format%2Ccompress)
Shares of Brigade Enterprises surged 8.66% to record high of Rs 1,331.45 apiece. They pared gains to trade 1.77% higher to Rs 1,247 apiece at 10:10 a.m., compared to 0.53% decline in the NSE Nifty 50.
The stock has gained 128.43% in 12 months and 39.57% year-to-date. Total traded volume so far in the day stood at 15 times its 30-day average. The relative strength index was at 67.32.
Out of 15 analysts tracking the company, 14 maintain a 'buy' rating and one suggests a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 4.9%.
