Kolte Patil Developers announced a drop in net profit for the quarter ended March 2014. During the quarter, the profit of the company declined 70.09% to Rs 151.14 million from Rs 505.36 million in the same quarter last year.
Net sales for the quarter declined 18.49% to Rs 1,711.18 million, compared with Rs 2,099.28 million for the prior year period.
Earnings per share for the quarter stood at Rs 1.72, registering 71.09% decline over previous year period.
| Quarterly Results - (Rs in mn) |
| As at | Mar - 14 | Mar - 13 | %Change |
| Net Sales | 1,711.19 | 2,099.28 | (18.49) |
| Net Profit | 151.14 | 505.36 | (70.09) |
| Basic EPS | 1.72 | 5.95 | (71.09) |
Shares of the company gained Rs 14.45, or 12.91%, to settle at Rs 126.35. The total volume of shares traded was 904,850 at the BSE (Tuesday).
