Ravi PNC Menon has resigned from the position of whole-time director & key managerial personnel of Sobha due to certain commitments and personal reasons with effect from March 31, 2023, the company said in a BSE filing.
He will continue as a non-executive non-independent director of the company effective April 1, 2023. Subject to the approval of the board, he will also continue to hold the position of chairman (non-executive) of the company.
The company reported a dip of 47.87 per cent in its consolidated net profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at Rs 31.80 crore in Q3 FY23 as against Rs 61 crore it registered in the corresponding quarter of the previous fiscal.Its consolidated total income stood at Rs 898 crore in Q3 FY23, a growth of 38.15 per cent from Rs 650 crore it recorded in the similar quarter last year.