Published on 6/08/2019 1:56:50 PM | Source: Dion Global Solutions Ltd

Kolte-Patil Developers surges 16% on robust June quarter results

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Shares of Kolte-Patil Developers surged 16 per cent on Monday at the Bombay Stock Exchange after the company reported stellar growth in June quarter consolidated net profit at Rs 116 crore against Rs 37.9 crore in same period last year, backed by revenue which increased 50 percent year-on-year to Rs 585.7 crore in Q1. EBITDA in Q1 jumped 43.9 percent year-on-year to Rs 195.1 crore, but margin contracted 140 bps YoY to 33.3 percent in Q1.

Buoyed by the development, shares of the company surged as much as 16 per cent in the intra-day trade at Rs 242.00 a piece on BSE. On NSE, the shares of the company were trading at Rs 232.40 apiece, up by 11.38 per cent. Meanwhile, the BSE Sensex was at 37,017.82, up by 317.98 points or 0.87 per cent at 13:20 hours.