Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Sobha Ltd announces Q3 FY24 Financial Results

Posted On: 2024-02-08 13:06:35 (Time Zone: IST)


Sobha Ltd., a prominent player in the realty sector, has released its financial results for the quarter ended December 31, 2023. Despite facing challenges within the real estate industry, the company has showcased resilience and posted its financial performance for Q3 FY24, reflecting its strategic initiatives and operational efficiency.

Financial Highlights:

Quarterly Performance (Q3 FY24):

Sales: Sobha Ltd. reported sales of ?685 crores for Q3 FY24, representing a slight decrease compared to the previous quarter's ?741 crores.

EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization stood at ?74 crores, remaining relatively stable compared to the previous quarter.

PAT: Profit After Tax reached ?15 crores, demonstrating Sobha Ltd.'s ability to maintain profitability amidst market challenges.

Quarterly Comparison (Q3 FY24 vs. Q2 FY24 and Q3 FY23):

While sales experienced a slight decline from Q2 FY24 to Q3 FY24, the company showcased resilience amidst challenging market conditions.

EBITDA and PAT remained relatively stable compared to the previous quarters, indicating Sobha Ltd.'s consistent operational performance.

9-Month Performance (9M FY24 vs. 9M FY23):

Sobha Ltd. reported cumulative sales of ?2,334 crores for the nine months ended December 31, 2023, compared to ?2,103 crores in the same period last year.

EBITDA for 9M FY24 stood at ?215 crores, reflecting the company's ability to maintain operational efficiency.

Profit After Tax witnessed a slight decrease compared to the previous year, indicating the impact of market dynamics on Sobha Ltd.'s bottom line.

Sobha Ltd.'s performance in Q3 FY24 reflects its resilience and ability to navigate through market uncertainties within the realty sector. Despite challenges such as regulatory changes and macroeconomic headwinds, the company has maintained a stable performance, driven by its strong brand presence and customer trust.

The real estate sector's recovery post-pandemic and increasing demand for residential and commercial properties present growth opportunities for Sobha Ltd. The company's focus on project execution excellence, customer satisfaction, and operational efficiency positions it well to capitalize on emerging market trends and further strengthen its market leadership.

Shares of Sobha Limited was last trading in BSE at Rs. 1440.70 as compared to the previous close of Rs. 1392.45. The total number of shares traded during the day was 24508 in over 2304 trades.

The stock hit an intraday high of Rs. 1457.35 and intraday low of 1392.30. The net turnover during the day was Rs. 35281834.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

The South Indian Bank Ltd approves 1:4 rights issue at Rs. 22 per share

Club Mahindra partners with The Marmara ?i?li Resort in Turkey to provide its members with holiday options in Istanbul

PVP Ventures Ltd announces a Joint Development with Brigade Enterprises Ltd

Mangal Credit and Fincorp Ltd approves preferential issue

Vikas Lifecare Ltd's Subsidiary PME Entertainment Presents Two Spectacular Events in Dubai

Genpharmasec Limited allots 27,68,59,850 Rights Equity Shares

Dow Jones and Infosys Introduce Upgraded Preference Center for Wall Street Journal Subscribers

Union Bank of India sanctions OTS of Kridhan Infra Ltd

Ceinsys Tech Ltd receives order

Ashiana Housing Ltd launches Phase 1 of Ashiana Nitara

Apollo Micro Systems Ltd receives term loan sanction from SBI

Brigade Group to expand its Residential and Hospitality Portfolios in Chennai

LTIMindtree and Eurolife FFH Sign MoU to Setup Gen Al and Digital Hubs in Europe and India

63 moons unveils disruptive technology in Cybersecurity

Airtel strengthens its retail footprint in Vijaywada

TVS Eurogrip exhibits prominent agri related products at Krishi Darshan Expo in Haryana

Infosys Foundation and the Centre for Cellular and Molecular Platforms to Strengthen Maternity Care in Karnataka

Mafatlal Industries Limited's Annual Report wins Platinum Award

Ambuja Cements Proposes Setting up a 4 MTPA Cement Grinding Unit in Godda, Jharkhand

Airtel adds 39 new stores in Chennai, doubles its retail store presence

PennWhite Limited, UK forms subsidiary in India

UltraTech Cement Limited commissions 1.8 MTPA brownfield cement capacity at Kotputli, Rajasthan

HFCL to Expand Presence in Europe with setting up of Optical Fiber Cable Plant in Poland

Vipul Organics participates in PAINTINDIA, the largest paint exhibition of the country

Ericsson and Airtel successfully demonstrate 5G FWA functionality on mmWave

Co-op Expands Partnership with TCS with a Cloud-First Strategy to Support its Business Growth and Sustainability Roadmap

Popeyes India brings a dash of Louisiana to the heart of Delhi with its first store in Chandni Chowk

Patel Engineering Ltd JV declared L1 for irrigation project worth Rs. 525.36 crores

Cosmo First wins two prestigious awards

Airtel adds 4 new stores, doubles its retail store presence in Bhubaneshwar

Zen Technologies Ltd receives order worth Rs. 93 crores

Lumos selects STL as a partner to build transformative 100% fiber optic internet infrastructure in the US

BluSmart inks multi-year PPA with Tata Power arm

Zaggle Prepaid Ocean Services Ltd enters into agreement with Arcadis Consulting

CarLelo unveils new brand identity at Women Premier League 2024

Airtel doubles its retail store presence in Amritsar, adds 3 new stores

G R Infraprojects Ltd to sell 7 subsidiaries to Bharat Highways InvIT

Bright Outdoor Media Ltd gets BSE nod for preferential issue

Valiant and CXR cooperation for Cyber Security solutions in France and neighboring European countries

Kilburn Engineering Ltd expands portfolio with acquisition of M.E Energy

Seedlings India Pvt Ltd gets patent

Garment Mantra Lifestyle Ltd to set up new wholesale hub in Surat

Satin Creditcare forays into Telangana and Andhra Pradesh

Revolt Motors accelerates presence with 15 New Dealerships Across India

Wipro and Intel Foundry announce new collaboration to Advance Chip Design and Development

Godrej Industries Limited - Chemicals features in The CDP Climate Change Leadership Index

ESAF Small Finance Bank gets ISO certification for operations

ABB India reports net profit of Rs. 338.66 crores in Q4 CY2023

IMplus Capitals Ltd consolidated Q3 FY24 net profit at Rs. 41.86 crores

GR Tarakote Sanjichhat Ropeway Pvt Ltd signs concession agreement with Shri Mata Vaishno Devi Shrine Board


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020