Sobha Q4 profit up 70% at Rs 47cr

Realty firm Sobha Ltd today reported 70 per cent increase in its consolidated net profit at Rs 47 crore for the quarter ended March.
Its net profit stood at Rs 27.6 crore in the year-ago period, the Bengaluru-based firm said in a regulatory filing.
Total income increased to Rs 601.3 crore in the fourth quarter of last fiscal from Rs 566.1 crore in the corresponding period of the previous year.
During the full 2016-17 fiscal, Sobha's net profit rose to Rs 160.7 crore from Rs 138.1 crore in the previous year.
Total income increased to Rs 2,284.7 crore in the 2016-17 fiscal from Rs 1,990.9 crore in the previous year.

Commenting on the outlook for this fiscal, Sobha's Vice Chairman and MD J C Sharma said, "The Company is confident of performing better in both operational and financial parameters in FY18".
"In view if RERA and GST getting implemented, the Board has deemed it appropriate to defer in giving guidance for the current financial year," he added.