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Macrotech Developers surges despite reporting 34% fall in Q1 consolidated net profit
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Macrotech Developers is currently trading at Rs. 743.55, up by 16.10 points or 2.21% from its previous closing of Rs. 727.45 on the BSE.
The scrip opened at Rs. 700.05 and has touched a high and low of Rs. 747.40 and Rs. 695.55 respectively. So far 89452 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 747.40 on 28-Jul-2023 and a 52 week low of Rs. 355.50 on 24-Feb-2023.
Last one week high and low of the scrip stood at Rs. 747.40 and Rs. 695.55 respectively. The current market cap of the company is Rs. 71559.22 crore.
The promoters holding in the company stood at 74.96%, while Institutions and Non-Institutions held 23.64% and 1.40% respectively.
Macrotech Developers has reported results for first quarter ended June 30, 2023 (Q1FY24).
The company has reported 52.73% fall in its net profit at Rs 135.30 crore for the quarter under review as compared to Rs 286.20 crore for the same quarter in the previous year. Total income of the company decreased by 44.86% at Rs 1501.60 crore for Q1FY24 as compared Rs 2723.30 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 33.95% fall in net profit at Rs 179.20 crore for the quarter ended June 30, 2023 as compared to Rs 271.30 crore for the same quarter in the previous year. Total income of the company decreased by 37.52% at Rs 1671.80 crore for Q1FY24 as compared Rs 2675.80 crore for the corresponding quarter previous year.
