Sobha Developers Ltd Q4FY17
Consolidated Results Q4FY17: (Rs. in crore)
|EBITDA Margin (%)||20.6|||
|Net Profit (adjusted)||47||70.3|
EBITDA for the quarter rose by 2.2% yoy to Rs. 120 crore with a corresponding margin contraction of 75 bps. EBITDA margin for the quarter stood at 20.6%.
The PAT for the quarter came in at Rs. 47 crore, yoy increase of 70.3%. This was due to sharp decline in effective tax rate to 39% from 71% in Q4FY16.
Looking at full year numbers, we see that revenue for FY17 increased by 14.7% yoy to Rs. 2229 crore while EBITDA during the period fell 3.6% yoy to Rs. 285 crore. The company reported net profit of Rs. 161 crore, up by 16.4% yoy.
During FY17 company completed projects of 5.09 million square feet and launched 2 projects at Bangalore and Cochin each.
Sobha Ltd is currently trading at Rs. 412.9, up by 5.25 points or 1.29% from its previous closing of Rs. 407.65 on the BSE.
The scrip opened at Rs. 409.7 and has touched a high and low of Rs. 414 and Rs. 408.95 respectively. So far 199916(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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