Oberoi Realty Q2 Results: Profit Rises 29%, Beats Estimates
Oberoi Realty's shares rise 1.43% to Rs 1,930.35, outperforming the NSE Nifty 50's 0.42% gain, following the company's Q2 results, featuring a second interim dividend declaration of Rs 2 per share.
The consolidated net profit of Oberoi Realty Ltd. jumped 8.4% in the second quarter of the current financial year, beating analysts' estimates.
The real estate player's profit rose to Rs 589 crore in the quarter ended Sept. 30, 2024, according to an exchange filing on Friday. Analysts tracked by Bloomberg had estimated a profit of Rs 520 crore.
Oberoi Q2 FY25 Results Highlights (Consolidated, YoY)
Revenue up 8.4% to Rs 1,320 crore versus Rs 1,217 crore (Bloomberg estimate: Rs 1,292 crore).
Ebitda up 27.5% to Rs 815 crore versus Rs 474 crore (Estimate: Rs 707 crore).
Margin expands to 61.6% versus 52.4% (Estimate: 54.70%).
Net profit up 29% to Rs 589 crore versus Rs 457 crore (Estimate: Rs 520 crore).
The company declared a second interim dividend for the financial year-ending March 2025 of Rs 2 per share.
Shares of the company closed 1.43% higher at Rs 1,930.35 per share. That compares to a 0.42% advance in the NSE Nifty 50.
(This is a developing story.)
