Akruti City declined 4.40% to Rs 711.10 at 14:28 IST on BSE even as the company reported 272.87% surge in net profit to Rs 171.41 crore on 236.79% increase in total income to Rs 241.01 in Q1 June 2008 over Q1 June 2007.
The company announced the results during trading hours today, 29 July 2008.
The stock hit a high of Rs 753 and a low of Rs 708 so far during the day. The stock had a 52-week high of Rs 1399 on 23 January 2008 and a 52-week low of Rs 456.15 on 22 August 2007.
From a recent low of Rs 693.60 on 21 July 2008, the stock rose 7.24% to Rs 743.85 on 28 July 2008. The stock had surged 3.83% to Rs 747.10 on 23 July 2008 as the market surged on that day after the government on 22 July 2008 won trust vote in parliament. The stock declined 0.53% to Rs 74.85 on 28 July 2008.
The company has an equity capital of Rs 66.70 crore. Face value per share is Rs 10.
The current price of Rs 711.10 discounts its Q4 March 2008 annualised EPS of Rs 58.82, by a PE multiple of 12.09.
On consolidated basis, Akruti City reported 284.22% surge in net profit to Rs 170.90 crore on 238.23% increase in total income to Rs 238.86 crore in Q1 June 2008 over Q1 June 2007.
The company's principal activity is to develop real estate. It includes commercial and residential properties and acquisition of land and land development.
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