Sobha share price climbs over 8% on Q4 earnings

Share price of Sobha Ltd surged over 8% in early trade on June 30 a day after the company posted its fourth-quarter earnings. The company reported a 5% decline in its consolidated net profit at Rs 281.5 for FY20 against the net profit of Rs 297.1 crore in FY19. Firm's total income climbed to Rs 3,825.7 crore in 2019-20 from Rs 3,515.6 crore in 2018-19.

Read MoreSobha share price touched an intraday high of Rs 236.5, rising 8.74% as against the last closing of Rs 217.50 on BSE. Stock's opening and day's low value was the same as the last closing price today. Sobha shares have gained after 4 days of consecutive fall.

The stock of the real estate firm currently trades higher than its 20 and 50 day moving averages but lower than 5, 100 and 200-day moving averages.

Stock price of Sobha has given 15% returns in one month. Market capitalisation of the firm stood at Rs 2,150.63 crore as of today's session.

For the quarter ended March 2020, the firm reported a 55% decline in its consolidated net profit to Rs 50.7 crore against the profit of Rs 113.3 crore in the same quarter preceding fiscal. Its total income fell to Rs 927.6 crore compared to Rs 1,421.6 crore in the same quarter previous year.

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