Indiabulls Real Estate hits over 3-yr high on swinging to profit in Q2

Embassy Developments

18/10/2021 05:52

** Shares of real estate developer  INRL.NS  rise as much as
13.4% to 186 rupees, highest since June 2018
    ** Co last week reported a consolidated net profit of 55.4
mln rupees ($735,899.68) for the Sept quarter versus a loss of
761.4 mln rupees a year ago https://bit.ly/3aMpDiB
    ** Revenue from operations rose to 3.49 bln rupees from
201.5 mln rupees last year
    ** Co also reports proposed merger with Embassy Group
nearing completion 
    ** About 13.9 mln shares traded by 0436 GMT, 1.2x the 30-day
avg of 11.5 mln shares
    ** INRL stock up 99.6% this year as of last close  


($1 = 75.2820 Indian rupees)
    

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com))