Godrej Properties Q4 net dips 34%

Godrej Groups real estate arm Godrej Properties posted a 33.65 per cent decline in net profit for the quarter ended March 31,2012 at Rs 39.8 crore. The company had registered a net profit of Rs 59.99 crore in the corresponding period last fiscal

Godrej Groups real estate arm Godrej Properties (GPL) on Saturday posted a 33.65 per cent decline in net profit for the quarter ended March 31,2012 at Rs 39.8 crore. The company had registered a net profit of Rs 59.99 crore in the corresponding period last fiscal.

Total income grew 11.28 per cent at Rs 373.18 crore as against Rs 333.53 crore in the year-ago period,the company said.

The margins have been under pressure mainly because of the increase in input as well as labour costs. We expect to deliver strong growth in FY13, said Adi Godrej,chairman,Godrej Group.

For the financial year 2011-12,GPL posted a 25.16 per cent decline in net at Rs 97.93 crore . Its total income for the year stood at Rs 819.81 crore,up 46.68 per cent.

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