Sobha reports net profit of Rs 12.05 crore in Q1 FY24

09 Aug 2023 CW Team

For the quarter that ended on June 30,2023, Sobha's net consolidated profit increased by 165.42 percent. In Q1 FY24, the company's profit after tax increased to Rs 12.05 crore from Rs 4.54 crore in the same quarter of the previous fiscal, according to a BSE filing.

The company's net consolidated total income for the first fiscal quarter of FY24 was Rs 939.24 crore, up 62.98% from Rs 576.30 crore in the corresponding period of FY23.

"Our inventory visibility of recently launched projects as well as those in the pipeline at different stages of development is good, which will support our growth goals. According to Jagadish Nangineni, managing director of the company, "Our concentration on cashflow generation and rigorous capital allocation will also augment our financial and operational strength in the approaching years.

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