Real estate player Sobha Ltd. saw its revenue and net profit decline in the September quarter. However, the numbers improved compared to the June quarter.
The company’s net profit declined as much as 70 percent to Rs 19.2 crore from Rs 63.1 crore in the same period a year ago. The company reported a net profit of only Rs 45 lakh in the June quarter.
In the September quarter, the company also recorded the highest-ever quarterly sale value of Rs 1,164 crore aided by the highest-ever sales price realisation of Rs 8,709 per square foot and sales volume of 1.34 million square feet.
The stock is currently trading at Rs 650.95, up 2.75 percent.
