Oberoi Realty recorded a significant decline of 48.74% in its net consolidated profit for the quarter ending December 30, 2023. The company’s profit after tax dropped to Rs 360.15 crore in Q3 FY24 compared to Rs 702.57 crore in the corresponding quarter of the previous fiscal year, as reported in a filing to the BSE.
The consolidated total income for Q3 FY24 was Rs 1,082.85 crore, marking a decrease of 34.43% from the Rs 1,651.50 crore reported in the same quarter the previous year.
During the quarter, the board of directors declared an interim dividend of Rs. 2 per equity share (20% of face value) for the financial year 2023-2024. This dividend, initiated on November 20, 2023, has been disbursed to entitled members.
As of December 30, 2023, Oberoi Realty’s net worth was Rs 13,129.42 crore, with a debt-equity ratio of 0.23, current liability ratio of 0.57, total debts to total assets ratio of 0.15, operating margin at 48.34%, and net profit margin at 33.26%.
In the quarter ending December 31, 2023, the company successfully redeemed the entire Series I NCDs, amounting to Rs 50 crore, on the scheduled redemption date of December 16, 2023.