Sobha slips 7% as net profits fall by 47% in Q3

NEW DELHI: Shares of realty firm Sobha Developers slumped 7 per cent on Monday after the company reported a 46.6 per cent year-on-year decline in Q3 net profit. The firm's net profit for the quarter ending December 30, 2015 stood at Rs 32.1 crore against Rs 60.1 crore in the same period a year ago.

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Reacting to the earnings, the scrip slipped 6.80 per cent to hit a low of Rs 265.70 on the BSE. Total income from operations fell to Rs 399 crore from Rs 684.4 crore, down 42 per cent on year-on-year basis.