Sobha Q4 net profit down 41pc at Rs 36 cr

Realty firm Sobha today reported a 41 per cent decline in consolidated net profit at Rs 36.1 crore for the March quarter, on higher finance cost and tax expenses.
Its net profit stood at Rs 61.5 crore in the year-ago period, the Bengaluru-based developer said in a regulatory filing.
Income from operations, however, rose to Rs 552.6 crore during the fourth quarter of the last fiscal from Rs 506.3 crore in the corresponding quarter of the previous year.
Finance cost increased to Rs 38.4 crore from Rs 31.8 crore while tax expenses rose to Rs 54.8 crore from Rs 33.4 crore during the period under review.

During the entire 2015-16 fiscal, net profit dropped by 35.6 per cent to Rs 153.3 crore from Rs 238.1 crore in the previous fiscal.
Income from operations also fell to Rs 1,865 crore last financial year from Rs 2,440.6 crore in the 2014-15 fiscal.