Brigade Enterprises gain 5 percent after Q4 result
Published On: Wednesday, May 19, 2021 | By: Team KnowMyStock
Shares of Brigade Enterprises gained 13 per cent to Rs 279.95 after the realty company reported a sharp surge in consolidated net profit to Rs 39.57 crore in Q4 FY21 from Rs 2.68 crore in Q4 FY20.Total income rose to Rs 820.86 crore in Q4 from Rs 644.34 crore in the previous year.The mid cap stock has gained 174% in one year and risen 5.16% since the beginning of this year.The board of directors recommended a final dividend of Rs 1.20 per equity share (12 percent) of Rs 10 each which is subject to approval of shareholders in the ensuing Annual General Meeting of the Company, the company said in an exchange filing."The dividend will be paid within 30 days from the date of shareholders approval in the ensuing annual general meeting of the company," it added.Brigade Enterprises posted a consolidated net loss of Rs 46.3 crore for the year ended March 2021 compared with net profit of Rs 130.6 crore in the year ended March 2020 . Revenue declined 26% year on year to Rs 1,949.97 cr in FY21
The company is primarily engaged in the business of real estate development leasing and hospitality and related services in South India. They are one of the leading property developers in Bengaluru, Mysore, Kochi, Hyderabad, Mangaluru, Chikmagaluru Ahmedabad and Chennai.
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