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Real estate company Sobha Ltd net profit for the third quarter has dropped 46.58 per cent to ₹32.10 crore because of lower revenue recognition.
The company’s income from operations is also lower by 41.70 per cent to ₹399 crore against ₹684.4 crore in the same period last year. EPS for Q3 stood at ₹3.27 against ₹6.13 last year.
During the quarter, the company has generated net positive operational cash flows of ₹173 crore. The debt-equity ratio stood at 0.81 as on December 31, 2015.
JC Sharma, Vice-Chairman and MD, commenting on the company’s performance said, “The margins are stable, with the EBITDA margin improved to 27.90 per cent. Our operational cash flow generation remains strong accompanied by a reduction of ₹30.2 crore in debt during the quarter. The company, through judicious control over fixed costs, has also been able to restrain its construction cost.”
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