Sobha Developers Q1 net profit up 73% YoY to Rs 45 cr

The Bangalore-based Sobha Developers' consolidated net profit rose lower than expected 73% year-on-year to Rs 45 crore in the quarter ended June 2012, but quarter-on-quarter the same fell by 53.5%. Analysts on an average had expected net profit at Rs 52 crore.

August 07, 2012 / 16:48 IST

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The Bangalore-based Sobha Developers' consolidated net profit rose lower than expected 73% year-on-year to Rs 45 crore in the quarter ended June 2012, but quarter-on-quarter the same fell by 53.5%. Analysts on an average had expected net profit at Rs 52 crore.

Consolidated net sales went up higher than expected 55.8% YoY to Rs 432 crore during the same quarter as against analysts' forecast of Rs 350 crore, but sales dropped by 17.24% QoQ.

The share rose 2.32% to close at Rs 362.20 on the BSE after hitting a 52-week high of Rs 370.

first published: Aug 7, 2012 04:47 pm

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