Godrej Properties slumps after dismal Q3 performance

Godrej Properties fell 2.07% to Rs 1359.65 after the company's consolidated net profit tumbled 69.2% to Rs 14.35 crore on a 55.5% fall in revenue from operations to Rs 170.49 crore in Q3 FY21 over Q3 FY20.

Profit before tax in Q3 December 2020 stood at Rs 31.39 crore, down by 64.4% from Rs 88.13 crore in Q3 December 2019. The company incurred a current tax expense of Rs 6.61 crore during the quarter.

Godrej Properties is engaged in construction and real estate development.

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