Oberoi Realty shares surge 5% post Q1 earnings

NEW DELHI: Shares of Oberoi Realty surged over 5 per cent after the company's consolidated net profit increased by 33 per cent for the quarter ended June.

The scrip gained 5.24 per cent to end at Rs 313.50 on BSE. During the day, it jumped 8.22 per cent to Rs 322.40 -- its 52-week high.

At NSE, shares of the company soared 5.85 per cent to close at Rs 314.60.

The company added Rs 530 crore to Rs 10,639 crore in market valuation.

Oberoi Realty's consolidated net profit increased by 33 per cent to Rs 108.88 crore for the quarter ended June.

Its net profit stood at Rs 81.93 crore in the year-ago period.

"The company has recorded consolidated revenue of Rs 330 crore for Q1, FY17 as against Rs 219 crore for Q1, FY16," the Mumbai-based developer had said in a statement on Saturday.