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.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
