Sobha Developers dips on weak Q4 earnings
Q4 profit down 28% at Rs 70 crore mainly due to higher material cost.
Sobha Developers is trading lower by 3% to Rs 397 on reporting 28% year-on-year (yoy) drop in net profit at Rs 69.50 crore for the quarter ended March 31, 2013 (Q4) due to higher material cost. The real estate developer had profit of Rs 97.50 crore in a year ago quarter.
The company’s total income from operations grew 12% at Rs 587 crore, while total expenditure increased by 28% to Rs 440 crore on yoy basis. EBDITA or operating margin has declined to 27.71% from 36.62% during the recently concluded quarter.
The stock opened at Rs 404 and hit a low of Rs 392 on BSE. A combined around 27,023 shares changed hands on the counter till 1151 hours on BSE and NSE.
The company’s total income from operations grew 12% at Rs 587 crore, while total expenditure increased by 28% to Rs 440 crore on yoy basis. EBDITA or operating margin has declined to 27.71% from 36.62% during the recently concluded quarter.
The stock opened at Rs 404 and hit a low of Rs 392 on BSE. A combined around 27,023 shares changed hands on the counter till 1151 hours on BSE and NSE.