Sobha's Q4 Profit Plummets 86% to ₹7 Crore

Sobha Ltd reported an 86% decline in consolidated net profit to Rs 7.02 crore for the March 2024 quarter due to lower income. The net profit was Rs 48.57 crore in the year-ago period, while total income fell to Rs 791.25 crore from Rs 1,240.14 crore. During 2023-24, net profit declined to Rs 49.11 crore from Rs 104.20 crore, and total income dropped to Rs 3,217.88 crore from Rs 3,402.43 crore. Sobha Ltd is a leading real estate developer in South India.

Realty firm Sobha Ltd on Friday reported 86 per cent decline in consolidated net profit to Rs 7.02 crore for the quarter ended March 2024 on lower income.

Its net profit stood at Rs 48.57 crore in the year-ago period.

Total income also fell to Rs 791.25 crore in the fourth quarter from Rs 1,240.14 crore in the corresponding period of the previous year, according to a regulatory filing.

During 2023-24, net profit declined to Rs 49.11 crore from Rs 104.20 crore in the preceding year. Total income fell to Rs 3,217.88 crore from Rs 3,402.43 crore in 2022-23.

Bengaluru-based Sobha Ltd is one of the leading real estate developers in the country. It has a significant presence in South India.

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