Indian real estate developer Sobha reports a 86% drop in Q4 net profit and 36.20% decline in net consolidated total income.
Indian real estate developer Sobha reports an 86% drop in Q4 net profit to Rs 7.02 crore, with net consolidated total income down 36.20% to Rs 791.25 crore. Despite the decline, a 30% dividend per equity share is recommended for the financial year ended March 31, 2024. The company reduced its net debt by Rs 17.88 billion over 14 quarters and achieved a debt/equity ratio of 0.50 in Q4 FY24.
May 17, 2024
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