 "Sobha Q1 profit plunges 93% to Rs 6.6 crore as business takes hit")
Realty firm Sobha on Friday reported a 93 per cent decline in its consolidated net profit at Rs 6.6 crore for the quarter ended June as sales and construction activities were stalled because of the COVID-19 pandemic.
Its net profit stood at Rs 90.6 crore in the year-ago period.
Total income fell to Rs 359.3 crore in the first quarter of this fiscal from Rs 1,193.1 crore in the corresponding period of the previous year, the company said in a regulatory filing.
Bengaluru-based Sobha is a leading real estate firm in the country.
Shares of the company were trading at Rs 224.30 apiece, up 1.24 per cent from their previous close on BSE.
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