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This is an archive article published on November 14, 2011

Sobha Q2 net profit down by 31

The company had posted a net profit of Rs 58.9 crore in the year-ago period.

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Realty firm Sobha Developers today reported 30.56 per cent decline in net profit to Rs 40.9 crore for the quarter ended September on lower sales.

The company had posted a net profit of Rs 58.9 crore in the year-ago period.

Net sales fell by 22.45 per cent to Rs 327.4 crore in the July-September quarter compared with Rs 422.2 crore in the corresponding period of last year,the company said in a filing to the BSE.

In a separate filing,Sobha said it has bought the entire 81 per cent stake of Dubai-based Pan Atlantic Investment in the joint venture firm Sobha Developers Pune Ltd,which now would become its fully-owned subsidiary.

 

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