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FINWIRES

Aditya Birla Real Estate Swings to Profit in Fiscal Q4; Shares Up 4%

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-- Aditya Birla Real Estate (NSE:ABREL, BOM:500040) swung to a profit in the fiscal fourth quarter ended March 31, with a consolidated attributable profit of 108.4 million Indian rupees from a loss of 1.31 billion rupees a year ago.

Earnings per share came in at 0.97 rupees from a loss per share of 12.27 rupees a year earlier, the real estate developer said in a filing to the Indian stock exchanges exhanges.

Revenue from operations in fiscal Q4, however, fell to 981.9 million Indian rupees from 4.08 billion rupees a year ago.

The company's board recommended a dividend of 2.50 rupees per share of 10 rupees each for the year ended March 31.

The company's shares were up nearly 4% in recent trade.

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