Sobha Q4 profit down 65 per cent to ₹17.9 crore

Realty firm Sobha Ltd on Tuesday reported a 65 per cent decline in its consolidated net profit at Rs ₹17.9 crore for the quarter ended March 32, 2021.

Its net profit stood at ₹50.7 crore in the year-ago period.

Total income fell to ₹588.9 crore in the fourth quarter of last fiscal year from ₹927.6 crore in the corresponding period of the previous year, Bengaluru-based firm said in a regulatory filing.

For the 2020-21 financial year, net profit fell to₹62.3 crore from ₹281.5 crore in the previous year.

Total income fell to ₹2,190.4 crore in the last fiscal from ₹3,825.7 crore in 2019-20 fiscal.