 "Godrej Properties Q4 net profit drops 35% to Rs 101.08 cr due to high expenditure; shares up on BSE")
New Delhi: Realty firm Godrej Properties on Monday reported a 35 percent fall in its consolidated net profit at Rs 101.08 crore for the quarter ended March due to higher expenditure.
#4QWithCNBCTV18 | Godrej Properties reports lower profit while revenue jumps year-on-year pic.twitter.com/0AWTT3492l
— CNBC-TV18 (@CNBCTV18Live) May 11, 2020
Its net profit stood at Rs 156.66 crore in the year-ago period, the company said in a regulatory filing.
Total income, however, rose to Rs 1,288.17 crore in the fourth quarter of the last fiscal year from Rs 1,203.21 crore in the previous year.
The Mumbai-based firm’s net profit rose to Rs 267.21 crore during the full 2019-20 financial year from Rs 253.15 crore in the previous year.
Meanwhile, the total income fell to Rs 2,914.59 crore during the last fiscal year from Rs 3,221.98 crore in financial year 2018-19.
Godrej Properties is the real estate arm of the business conglomerate Godrej Group.
Shares of the company were trading at Rs 619.35 apiece, up 0.32 percent from their previous close on BSE.
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