Latest News | Prestige Estates Projects' Shares Erase Early Gains; Close Nearly 2 Pc Lower
Get latest articles and stories on Latest News at LatestLY. Shares of Prestige Estates Projects Ltd on Wednesday erased all its early gains and closed nearly 2 per cent lower due to profit-taking.
New Delhi, Jun 9 (PTI) Shares of Prestige Estates Projects Ltd on Wednesday erased all its early gains and closed nearly 2 per cent lower due to profit-taking.
During the morning trade, it had jumped nearly 9 per cent after the company reported a sharp increase in its consolidated net profit for the March quarter.
The stock, which rallied 8.82 per cent to Rs 317 during the day on the BSE, closed 1.25 per cent lower at Rs 287.65.
On the National Stock Exchange (NSE), shares of the company closed at Rs 286.05, a decline of 1.88 per cent after zooming 8.72 per cent to Rs 317 during the day.
Realty firm Prestige Estates Projects Ltd on Tuesday reported a sharp increase in its consolidated net profit to Rs 1,336.3 crore for the quarter ending March, driven by monetisation of a large portfolio of commercial assets.
Its net profit stood at Rs 15.4 crore in the year-ago period.
Total income rose to Rs 2,360.6 crore in the fourth quarter of last fiscal from Rs 2,016.9 crore in the corresponding period of the previous year, the Bengaluru-based firm said in a regulatory filing. HRS hrs
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)