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Shobha Q1 net profit up 23.18%

Shobha Q1 net profit up 23.18%


PTI 07 Aug 2018, 02:58 PM India

Realty firm Shobha Ltd today reported 23.18 per cent jump in its consolidated net profit at Rs 52.6 crore for the first quarter of this fiscal on lower expenses.

Its net profit stood at Rs 47.7 crore in the same quarter last fiscal, the company said in a BSE filing.

Net sales declined to Rs 610.1 crore during April-June quarter of the 2018-19 fiscal as against Rs 689.1 crore in the year-ago.

However, expenses remained lower at Rs 536.1 crore as against Rs 616.3 crore in the said period, the filing added.

Shares of the company rose by 2.67 per cent to settle at Rs 495.70 apiece today on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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