Shares of realty firm Sobha Ltd today rose by over 4 per cent after the company reported 70 per cent increase in consolidated net profit for the quarter ended March.
The stock gained 4.28 per cent to settle at Rs 429.60 on BSE. During the day, it jumped 9 per cent to Rs 449.05 -- its 52-week high.
At NSE, shares of the company rose by 3.51 per cent to close at Rs 425.80.
The company added Rs 170.25 crore to its market valuation of Rs 4,137.25 crore at close.
Sobha Ltd yesterday reported over 70 per cent increase in its consolidated net profit at Rs 47 crore for the quarter ended March.
Its net profit stood at Rs 27.6 crore in the year-ago period, the Bengaluru-based firm said in a regulatory filing.
Total income increased to Rs 601.3 crore in the fourth quarter of last fiscal from Rs 566.1 crore in the corresponding period of the previous year.