Sobha Ltd clocks 73% jump in net profit at Rs 11.4 cr for Q1FY22
Noida: Realty firm Sobha Ltd clocked 73 percent jump in consolidated net profit at Rs 11.4 crore for the first quarter of the current fiscal as compared to a net profit of Rs 6.6 crore in the same quarter of the previous fiscal.
Its consolidated net income jumped 46 percent at Rs 525 crore for the first quarter of the current fiscal as compared to Rs 359 crore in the same quarter of the previous fiscal, the company said in a regulatory filing.
J C Sharma, VC and MD, Sobha Ltd said, "Despite the adverse impact of covid second wave during the quarter, we remained resilient due to our strong backward integrated business model which resulted in good operational performance across all the operating cities. Cashflows during the quarter remained healthy which resulted in net debt reduction."