Sobha Developers Ltd's Q3FY17 consolidated net profit rises 5.41% yoy to Rs.39 crore : Estimates Mixed

India Infoline Research Team | February 09, 2017 09:53 IST

Sobha Developers Ltd Q3FY17

Consolidated Results Q3FY17: (Rs. in crore)

Q3FY17 YoY (%)
Revenue 543 23.4
EDITDA 99 [9.2]
EBITDA Margin (%) 18.2 [654]
Net Profit (adjusted) 39 5.4
***EBITDA margin change is bps
Consolidated EPS for the quarter stood at Rs. 5.65.

Sobha's Q3FY17 consolidated results for the quarter came in mixed versus consensus estimates. Revenue for the quarter came in 9.5 % higher than the estimated figure of Rs. 495 crore. EBITDA for the quarter came in 9.6 % lower than the estimated figure of Rs. 109 crore. And lastly, net profit for the quarter came in 1.4 % lower than the estimated figure of Rs. 40 crore.

Sobha’s consolidated revenue for the quarter came in at Rs. 543 crore, registering 23.2% yoy increase. This was primarily driven by strong performance in both segment i.e. real estate and contractual & manufacturing which registered 16.6% and 34.4% yoy increase.

EBITDA for the quarter fell by 9.2% yoy to Rs. 98.9 crore with a corresponding margin contraction of 650 bps. EBITDA margin for the quarter stood at 18.2%. This margin contraction was led by land cost which jumped to Rs. 187.3 crore for the quarter compared to Rs. 3.4 crore in same quarter of previous year.

PAT for the quarter came in at Rs. 39.4 crore, yoy increase of 7.9%. This PAT growth was aided by 14.2% yoy decline in finance cost.

Technical View:

Sobha Ltd is currently trading at Rs. 277.95, up by 1.85 points or 0.67% from its previous closing of Rs. 276.1 on the BSE.
The scrip opened at Rs. 276.15 and has touched a high and low of Rs. 282 and Rs. 276 respectively. So far 38551(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

BSE 574.40 31.30 (5.76%)
NSE 574.45 31.60 (5.82%)

***Note: This is a NSE Chart



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