Indiabulls Real Estate, one of the largest real estate companies in India, witnessed a sharp gain in share price on Friday after it posted a sharp rise in consolidated net profit for the quarter ended March 2015. During the quarter, the profit of the company rose 2.23 times to Rs 931.30 million from Rs 416.72 million in the same quarter previous year.
Total Income for the quarter surged 84.50% to Rs 6,307.02 million, compared with Rs 3,419 million for the prior year period.
Shares of Indiabulls Real Estate are trading at Rs 60.40, up Rs 2.3, or 3.96% at the Bombay Stock Exchange (BSE) on Friday at 10:04 a.m.
Total volume of shares traded on the bourses today was lower by 40.60% to 3,868,217 compared with 22-day average volume of 6,512,671.