May 22, 2013, 10.43 AM IST | Source: Moneycontrol.com

Prestige Estates gains 3% after 2-fold jump in Q4 profits

Prestige Estates Projects' total income from operations jumped nearly three-fold Y-o-Y to Rs 559.72 crore during January-March quarter. Shares rallied more than 6 percent in early trade.

Prestige Estates Projects shares rallied more than three percent on Wednesday, after its fourth quarter (January-March) standalone net profit grew 2.3 times year-on-year to Rs 89 crore.

The Bangalore-based real estate firm's total income from operations jumped nearly three-fold Y-o-Y to Rs 559.72 crore during the quarter.

Meanwhile, its consolidated net profit rose by 3.5 times to Rs 285.97 crore during FY13 from Rs 82.6 crore in the previous financial year.

At 09:45 hours IST, the stock was quoting at Rs 182.60, up 3.28 percent after hitting an intraday high of Rs 188 (up 6.3 percent) in early trade.

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