Godrej Properties’ Profit Meets Estimates In Fourth Quarter
Godrej Properties Ltd. posted a profit in the January to March quarter of financial year 2016-17 after posting a loss in the same quarter a year ago, as per the Indian Accounting Standards (IndAS).
Net profit stood at Rs 62.6 crore compared to a Rs 10.7 crore loss in the corresponding quarter, in-line with the estimate of Rs 66.8 crore, pegged by analysts tracked by Bloomberg.
Consolidated revenue from operations rose 19.3 percent to Rs 431.3 crore compared to Rs 361.7 crore, according to the company's financial statement.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to Rs 100 crore compared to a loss of Rs 2.4 crore.
Shares of Godrej Properties fell 1.7 percent to Rs 535 during the day. The stock was trading lower even before the earnings were announced after gaining over 16 percent in the previous two sessions.
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