Sobha dips on weak Q4 results
The stock dipped 6% to Rs 385 on the BSE.
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Shares of Sobha has dipped 6% to Rs 385 on the BSE after reporting a 12% decline in year-on-year (yoy) consolidated net profit at Rs 61.50 crore for the quarter ended March 2015 (Q4), due to poor sales.
The real estate developer had reported a profit of Rs 70.20 crore in the year-ago quarter.
The company’s income from operations declined 19% to Rs 506 crore, from Rs 627 crore, Sobha said in a statement.
Operating profit, too, reduced 17% to Rs 142 crore on a y-o-y basis.
The stock hit a low of Rs 383 so far and has seen a combined 191,831 shares changing hands on the counter on the NSE and BSE till 1311 hours.
The real estate developer had reported a profit of Rs 70.20 crore in the year-ago quarter.
The company’s income from operations declined 19% to Rs 506 crore, from Rs 627 crore, Sobha said in a statement.
Operating profit, too, reduced 17% to Rs 142 crore on a y-o-y basis.
The stock hit a low of Rs 383 so far and has seen a combined 191,831 shares changing hands on the counter on the NSE and BSE till 1311 hours.
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First Published: May 13 2015 | 1:17 PM IST