New Delhi, Nov 10 (PTI) Realty firm Sobha Ltd todayreported a 30 per cent increase in its consolidated net profitat Rs 50.2 crore for the quarter ended September, on highersales.
Its net profit stood at Rs 38.6 crore in the year-agoperiod, the company said in a statement.
Total revenue rose 19 per cent to Rs 657.8 crore for thesecond quarter of this fiscal from Rs 552.2 crore in the yearago period.
Sobha Ltd Vice Chairman and Managing Director J C Sharmasaid, "As far as the financial performance is concerned, thecompany performed well on all the major financial parameters -revenue recognised, EBITDA, margins, PBT and PAT vis-à-vissame quarter of last year.”The company has achieved new sales volume of 8,61,084 sqft in total, valued at Rs 675.1 crore (SOBHAÂ’s share of salesvalue of Rs 592.7 crore) in the second quarter of the FY18.
The sales volume and total sales value are up by 5.6 percent and 8.3 per cent respectively as compared to precedingquarter. Additionally, the sales volume is marginally higherand total sales value is up by 22.5 per cent as compared to Q2of FY17.
"Brand Sobha's resillence is evident with these numbersat a time when the sector awaits for the demand to pick up. Weare hopeful of carrying forward this steady growth in thecoming quarters as well," Sharma said. PTI MJHMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.