Shares of Sobha Limited, India’s leading real estate company, were in demand during Tuesday’s trading session on the back of strong March quarter earnings for the fiscal year 2022–23 (Q4FY23).
The stock snapped a four-day declining trend and jumped more than 9 per cent to touch the day’s high level of Rs 554.90 per share on the BSE today. At closing the stock paired gains and ended 1.86 per cent higher at Rs 516.4 apiece.
Sobha’s Q4 earnings
The real estate company released its financial results for the quarter ending March 31 on Monday, May 29. The company registered a net profit of Rs 47.1 crore, compared to Rs 15.2 crore a year ago. Sobha logged a total income of Rs 1,240.1 crore as compared to Rs 7,43.80 crore a year ago, which was up 66.7 per cent. The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 145.9 crore against Rs 31.3 crore logged in the year-ago period. Sobha’s margin, a key element to measure the company’s performance, declined to 11.8 per cent from 14.9 per cent a year ago.
Sobha shares price history
So far in 2023, shares of Sobha have declined over 9 per cent against the headline index Nifty50’s rise of over 2 per cent
