Sobha Ltd
Sobha Ltd hit a new high today at Rs.449.05, shooting up sharply from its yesterday’s close of Rs.411.95. It has come off the high now and is quoted at Rs.432 levels, up over 5% and continues to figure out amongst the top five gainers on the BSE.
The company posted an impressive performance for Q4FY17. On a 5% (YoY) rise in consolidated total income at Rs.60 crore, it posted a 150% rise in net profit at Rs.5 crore. It ended the fiscal FY17 with a net profit at Rs.15 crore, up 15% on a 14% rise in total income at Rs.228 crore.
Keeping a tight leash on costs, the company has managed to improve its bottomline. Of its total expense of Rs.52 crore, Rs.45 crore has gone towards land purchase.
The good part about Sobha is that it is not heavy on the debt – borrowings as at 31st March 2017 stands at Rs.218 crore and interest outgo for the year was at Rs.15 crore.