 "Godrej Properties Q1FY24 results: Net profit at Rs 121 cr; revenue up 44%")
The standalone net profit of Godrej Properties Limited for the first quarter of the current financial year (Q1YFY24) saw a fall of 13.64 per cent to Rs 121.34 crore, compared to Rs 140.51 crore for the corresponding quarter of the previous year, the company said in a BSE filing.
Sequentially, the net profit was down 54.4 per cent. In Q4FY23, the net profit of the company was Rs 266.52 crore.
The revenue from operations for Q1FY24 came in at Rs 309.98 crore, compared to Rs 214.15 crore year-on-year (YoY), rising 44.7 per cent.
On a quarter-on-quarter (QoQ) basis, the revenue for operations was down 49.2 per cent. It was Rs 610.22 crore in Q4FY23.
The total income for Q1FY24 came in at Rs 567.51 crore, compared to Rs 439.29 crore YoY, up 29.18 per cent.
Sequentially, the total income was down 32.74 per cent. It was Rs 843.83 crore in Q4FY23.
Last month, the company had announced that it will acquire a 7.44-acre land parcel at New Alipore, a premium residential locality in Kolkata from West Bengal Housing Infrastructure Development Corporation Ltd.
The company has been declared as the highest bidder in an e-auction, but it did not disclose the bidding amount.
At 2 pm, the Godrej Properties Ltd stock was trading at Rs 1,660.85.
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