Sobha Developers Ltd Q2FY17
Consolidated Results Q2FY17: (Rs. in crore)
|EBITDA Margin (%)||19.1|||
|Net Profit (adjusted)||35.10||[11.6]|
Sobha Ltd.’s consolidated Q2FY17 result came in mixed against Bloomberg estimates. Revenue came in 8.5% higher than the estimate of Rs 499 cr. EBITDA stood 13.4% higher than the estimate of Rs 91 cr. However, net profit was 11.6% lower than the estimated figure of Rs 40 cr.
Revenue for the quarter increased 8.2% yoy to Rs 541.1 cr. This was led by 10% yoy growth in real estate segment.
EBITDA decreased by 4.7% yoy to Rs 103.4 cr led by 259 bps yoy fall in EBITDA margins. This was primarily driven by 7.8% & 6.4% yoy increase in expenses of subcontractors & other charges and purchase of project material respectively.
Reported net profit was decreased by 11.6% yoy to Rs 35.1 cr. This was led by higher effective tax rate (increased to 43% from 36%).
Sobha Ltd is currently trading at Rs. 243, up by 2.6 points or 1.08% from its previous closing of Rs. 240.4 on the BSE.
The scrip opened at Rs. 242 and has touched a high and low of Rs. 245 and Rs. 237.7 respectively. So far 309062(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
BSE 258.55 [0.55] ([0.21]%)
NSE 260.05 1.50 (0.58%)
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