Sobha Developers Q2 net down by 31 per cent
Realty firm Sobha Developers today reported 30.56 per cent decline in net profit to Rs 40.9 crore for the quarter ended September on lower sales.
By PTI | Updated:
NEW DELHI: Realty firm Sobha Developers today reported 30.56 per cent decline in net profit to Rs 40.9 crore for the quarter ended September on lower sales.
The company had posted a net profit of Rs 58.9 crore in the year-ago period.
Net sales fell by 22.45 per cent to Rs 327.4 crore in the July-September quarter compared with Rs 422.2 crore in the corresponding period of last year, the company said in a filing to the BSE.
In a separate filing, Sobha said it has bought the entire 81 per cent stake of Dubai-based Pan Atlantic Investment in the joint venture firm Sobha Developers (Pune) Ltd, which now would become its fully-owned subsidiary.
The company had posted a net profit of Rs 58.9 crore in the year-ago period.
Net sales fell by 22.45 per cent to Rs 327.4 crore in the July-September quarter compared with Rs 422.2 crore in the corresponding period of last year, the company said in a filing to the BSE.
In a separate filing, Sobha said it has bought the entire 81 per cent stake of Dubai-based Pan Atlantic Investment in the joint venture firm Sobha Developers (Pune) Ltd, which now would become its fully-owned subsidiary.
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