Godrej Properties Q4 PBT falls 23% on five-fold spike in raw material cost

Revenue up 10%, firm claims it posted its best-ever quarterly performance in terms of value of real estate sold

Godrej Properties posted a 23 per cent drop in its profit before tax (PBT) for the fourth quarter of FY20 at Rs 190 crore, mainly because of the increase in cost of raw materials consumed. In Q4FY19, it posted a PBT of Rs 245.55 crore.

Its net profit fell 35 per cent  to Rs 101 crore in Q4FY20 over the corresponding quarter of FY19. Its revenue from operations went up 10 per cent at Rs 1163 crore.

The cost of raw materials consumed went up five times to Rs 501 crore during Q4FY20.