Sobha Limited unveils financial results yesterday for Q4 and the fiscal year ending on March 31, 2023.
The company’s net profit for the fourth quarter which concluded on March 31, 2023, climbed by 242.25% to Rs 48.6 crore from Rs 14.2 crore as compared to the same quarter last year. The company’s total net sales in Q4FY23 climbed from Rs 743.7 crore to Rs 1240.1 crore in a comparable quarter the year before, a rise of 66.75%.
The company’s fourth-quarter net profit climbed by 52.83% from the third quarter to Rs 48.6 crore from Rs 31.8 crore. The company’s overall sales climbed during the same time frame from Rs 898 crore to Rs 1240.1 crore.
For the fiscal year that ended on March 31, 2023, the company recorded a rise in net sales of 28.62%, from Rs 2645.3 crore to Rs 3402.4 crore. The company’s net profit declined from Rs 173.2 crore to Rs 104.2 crore in the year ending March 31, 2022.
For the fiscal year ending March 31, 2023, the company board suggested a dividend of Rs 3 per equity share with a face value of Rs 10 each or 30%, subject to the member’s approval at the following Annual General Meeting.
In the last trading session, the scrip closed at Rs 507.50. Today it opened at Rs 554.90 and currently, it is trading at Rs 533.50, up by 5.12%. So far 74,746 shares were traded over the counter at BSE. The BSE group ‘A’ stock has a market cap of around Rs 5000 crore. It has a 52-week high of Rs 750 and a 52-week low of Rs 412.40.
Sobha Limited, incorporated in 1995, is a real estate developer engaged in the construction to operations of townships, housing projects, commercial premises, and other related activities. The company is also engaged in manufacturing activities related to interiors, glazing and metal works, and concrete products.