Godrej Properties shares down 4% on weak Q4 results

Godrej Properties' scrip today fell by 4 per cent after the company reported 65 per cent fall in consolidated net profit for the quarter ended March.
The stock dipped 4 per cent to settle at Rs 322.45 on BSE. Intra-day, it went down by 7.76 per cent to Rs 310.10.
At NSE, shares of the company fell by 3.95 per cent to close at Rs 322.60.
Godrej Properties today reported 65 per cent fall in consolidated net profit to Rs 17.92 crore for the quarter ended March on lower sales.
Its net profit stood at Rs 51.44 crore in the year-ago period, the developer said in a regulatory filing.

Income from operations also fell by 26 per cent to Rs 515.59 crore for the fourth quarter of last fiscal, 2015-16, from Rs 697.98 crore in the January-March period of the previous fiscal.
For the entire fiscal, Godrej Properties' net profit was up 21 per cent to Rs 231.10 crore, from 190.9 crore in the previous financial year.
Income from operations increased by 43 per cent to Rs 2,633.96 crore during last fiscal from Rs 1,843.09 crore in the 2014-15.