Sobha Ltd's Profit Dips Amidst Sluggish Income

Realty firm Sobha Ltd reported a significant 29% decline in net profit to Rs 15.42 crore for Q3 due to decreased income, dropping from Rs 21.68 crore in the previous year. Total income also fell to Rs 983.10 crore from Rs 1,256.87 crore, the company stated.

Real estate giant Sobha Ltd announced a 29 percent decrease in consolidated net profit for the third quarter of the fiscal year, amounting to Rs 15.42 crore, attributed to decreased income.

In comparison, the firm had secured a net profit of Rs 21.68 crore in the same quarter the previous year. Their total income also saw a reduction, falling to Rs 983.10 crore during the October-December period from Rs 1,256.87 crore in the year prior, as detailed in their regulatory filing.

Sobha Ltd, based in Bengaluru, is recognized as a leading real estate developer operating across South India, as well as in the Delhi-NCR and Mumbai regions.

(With inputs from agencies.)