Godrej Properties posts muted profit as sales weaken1 min read . Updated: 29 Jan 2014, 01:55 PM IST
The developer said profit rose to `37 crore from `35 crore in the year-ago quarter
Mumbai: Godrej Properties Ltd, the real estate arm for the Godrej Group, posted a muted 5% increase in net profit for the December quarter as sales weakened.
The developer, which is in both residential and commercial real estate projects, said net profit rose to ₹ 37 crore from ₹ 35 crore in the year-ago quarter. Operating income contracted 9% to ₹ 242 crore. Sales slipped 11% to ₹ 213 crore.
On a stand-alone basis net profit slumped 34% to ₹ 18 crore.
At 1pm, shares of the company were trading at ₹ 160.45, up 1.04%, while the Sensex was little changed at 20,761.29 points.