Godrej Properties drops after reporting dismal Q4 results

Godrej Properties dropped 3.03% to Rs 326 at 15:00 IST on BSE after the consolidated net profit dropped 65.16% to Rs 17.92 crore on 25.76% drop in total income to Rs 533.03 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during market hours today, 5 May 2016.

Meanwhile, the BSE Sensex was up 264.24 points, or 1.05%, to 25,365.97.

High volumes were witnessed on the counter. On BSE, so far 1.46 lakh shares were traded in the counter, compared with an average volume of 34,773 shares in the past one quarter. The stock hit a high of Rs 340.40 and a low of Rs 310.10 so far during the day. The stock hit a 52-week high of Rs 374.50 on 20 October 2015. The stock hit a 52-week low of Rs 237.65 on 14 May 2015. The stock had outperformed the market over the past one month till 4 May 2016, gaining 10.28% compared with Sensex's 1.17% fall. The scrip had also outperformed the market in past one quarter, rising 12.48% as against Sensex's 3.14% gains.

The mid-cap company has an equity capital of Rs 108.13 crore. Face value per share is Rs 5.

Godrej Properties' net profit margin after minority interest declined to 3.4% in Q4 March 2016 from 7.2% in Q4 March 2015. Godrej Properties' total booking value rose 43.92% to Rs 616 crore in Q4 March 2016 over Q4 March 2015. The results of Godrej Properties for the quarter and year ended 31 March 2016 Include the effects of scheme of amalgamation of GIL Vikhroli Real Estate (GVREL) with Godrej Properties and hence are not comparable with previous quarter/ year results.

Godrej Properties is a real estate company.

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