New Delhi, May 17 (PTI) Realty firm Sobha Ltd on Friday reported 86 per cent decline in consolidated net profit to Rs 7.02 crore for the quarter ended March 2024 on lower income.

Its net profit stood at Rs 48.57 crore in the year-ago period.

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Total income also fell to Rs 791.25 crore in the fourth quarter from Rs 1,240.14 crore in the corresponding period of the previous year, according to a regulatory filing.

During 2023-24, net profit declined to Rs 49.11 crore from Rs 104.20 crore in the preceding year. Total income fell to Rs 3,217.88 crore from Rs 3,402.43 crore in 2022-23.

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Bengaluru-based Sobha Ltd is one of the leading real estate developers in the country. It has a significant presence in South India.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)