Equity Alert: Puravankara up 10% on improved Apr-Jun earnings Wednesday, Jul 30 Equity Alert: Puravankara up 10% on improved Apr-Jun earnings MUMBAI--3:45PM--Shares of Puravankara Projects ended at 199 rupees, up 10%, after it announced improved Apr-Jun earnings. The company's Apr-Jun consolidated net profit rose 41% year-on- year to 619 mln rupees. Net sales increased 31% to 1.57 bln rupees. The company said lower selling, general and administrative expenses and higher gross profit margin drove net profit margin up to 39%. The company said it is confident of maintaining its profit margin at high levels. The company's shares moved up to a high of 216.90 rupees. They are expected to rise further but may face resistance at 222 rupees On NSE, 240,832 Puravankara Projects shares were traded today. |
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