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Sunteck Realty Q2 profit rises 35% to Rs 15 cr; revenue down at Rs 142.41 cr; stock gains

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Sunteck Realty has reported a 35 percent increase in its consolidated net profit at Rs 15.25 crore for the quarter ended September.

Sunteck Realty Q2 profit rises 35% to Rs 15 cr; revenue down at Rs 142.41 cr; stock gains
Sunteck Realty has reported a 35 percent increase in its consolidated net profit at Rs 15.25 crore for the quarter ended September. Its net profit stood at Rs 11.32 crore in the year-ago period.
Total income, however, declined to Rs 142.41 crore in the second quarter of this fiscal from Rs 152.33 crore in the corresponding period of the previous year, according to a regulatory filing.
Mumbai-based Sunteck Realty had posted a net profit of nearly Rs 42 crore over a turnover of Rs 631 crore during the entire 2020-21 financial year.
The company has a development portfolio of about 38 million square feet spread across 19 projects.
Sunteck Realty shares quoted at Rs 480.60, up over 2 percent at 11:33 am on NSE. The stock opened at Rs 483 and hit the day's low and high at Rs 477.15 and Rs 493, respectively.
So far this year, it has returned over 35 percent in gains to investors, while the one-year return on the stock is almost 81 percent.
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