Sobha Ltd Shares Decline as Q4 Net Falls 12%

Sobha Ltd shares fell as much as over 5 per cent to hit their intraday low of Rs 382.80 on Wednesday after the company reported a 12 decline in net profit for the March quarter the previous day.

The Bengaluru-based realty firm on Tuesday registered a 12 per cent decline in consolidated net profit at Rs 61.5 crore for the quarter ended March, 2015, compared with Rs 70.2 crore in the corresponding period a year ago.

Total income decreased to Rs 509.3 crore during the quarter from Rs 630.7 crore in the year-ago period. (Read more)

Sobha shares ended 4.94 per cent lower at Rs 385.05 apiece on the BSE.