Prestige Estates Q2 net up 74% to Rs 45.7 cr, stock down

Prestige Estates Projects  ' net profit rose by 73.8 percent year-on-year to Rs 45.7 crore in the quarter ended September 2012.

Total income grew by 88.6 percent to Rs 241.4 crore from Rs 128 crore and earnings before interest, tax, depreciation & amortization (EBITDA) increased 47.4 percent to Rs 72.5 crore from Rs 49.2 crore during the same period.

Profit was slightly higher than expected but numbers were below forecast on total income and EBITDA levels. Merrill Lynch had expected revenues of Rs 250.2 crore, EBIDA of Rs 82.5 crore and net profit of Rs 43.4 crore for the quarter.

At 14:45 hours IST, the share fell 6 percent to Rs 147.50 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd