The real estate company Sobha Ltd announced on Friday May 17 an 86% drop in its consolidated net profit at ₹7.02 crores for the quarter ended March 2024 due to decline in revenue. Its net profit amounts to ₹48.57 crore during the last year period.
Total income also fell to ₹791.25 crore in the fourth quarter of ₹1,240.14 crore in the corresponding period of the previous year, according to a regulatory filing.
During the period 2023-24, net profit fell to ₹49.11 crores ₹104.20 crore in the previous year. Total income fell to ₹3,217.88 crores ₹3,402.43 crore in 2022-23.
Bengaluru-based Sobha Ltd is one of the country’s leading real estate developers. It is very present in southern India.
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