Sobha Developers has moved higher by 6% at Rs 323 after reporting 13% year-on-year (yoy) jump in consolidated net profit at Rs 56.6 crore for the quarter ended September 30, 2013 (Q2) on back of higher sales. The real estate developer had profit of Rs 50.10 crore in a year ago quarter.
Its income from operations rose 30% yoy at Rs 540 crore from Rs 414 crore a year ago. Earnings per share stood at Rs 5.77 against Rs 5.11, Sobha Developers said in a statement.
The company said during the quarter under review the average price realization has increased to Rs 6,304 crore per square feet from Rs 5,575 per square feet a year ago.
The stock opened at Rs 314 and touched high of Rs 326 on NSE. A combined around 310,000 shares have changed hands on the counter till 1020 hours on NSE and BSE.
Its income from operations rose 30% yoy at Rs 540 crore from Rs 414 crore a year ago. Earnings per share stood at Rs 5.77 against Rs 5.11, Sobha Developers said in a statement.
The company said during the quarter under review the average price realization has increased to Rs 6,304 crore per square feet from Rs 5,575 per square feet a year ago.
The stock opened at Rs 314 and touched high of Rs 326 on NSE. A combined around 310,000 shares have changed hands on the counter till 1020 hours on NSE and BSE.
