Strong FY08 earnings propel Orbit Corporation
Orbit Corporation jumped 3.14% to Rs 486 at 9:57 IST on BSE after reporting a 2044.5% surge in net profit to Rs 166.63 crore on 1250% increase in net sales to Rs 417.03 crore in the year ended March 2008 over the year ended March 2007.
The company announced the results after trading hours on Wednesday, 4 June 2008.
On BSE, 4,752 shares were traded in the counter. The scrip had an average daily volume of 2.15 lakh shares in the past one quarter.
The stock hit a high of Rs 486 and a low of Rs 470 so far during the day. The stock had a 52-week high of Rs 1079.95 on 18 January 2008 and the stock hit a 52-week low of Rs 216 on 19 June 2007.
The mid-cap company had underperformed the market over the past one month till 4 June 2008, declining 11.92% compared to the Sensex's decline of 10.70%. It had also underperformed the market in the past one quarter, declining 17.64% compared to Sensex's decline of 6.21%.
The company's current equity is Rs 36.27 crore. Face value per share is Rs 10.
The current price of Rs 486 discounts its Q4 March 2008 annualised EPS of Rs 97.97, by a PE multiple of 4.96.
Orbit Corporation reported a net profit of Rs 88.83 crore on net sales of Rs 183.35 crore in Q4 March 2008. Figures of the corresponding previous year period were not available.
Orbit Corporation is a real-estate construction and development company with primary focus on redevelopment of existing properties. The company specializes in developing, designing and managing high-end residential and commercial properties