Quarterly Results: Godrej Properties Ltd
Bhagyashree Vivarekar / 09 Nov 2016
Godrej Properties Ltd., is currently trading at Rs. 351.05, down by 7.45 points or 2.08% from its earlier closing of Rs. 358.5 on the BSE. The company's net profit has dipped 75.6% yoy to Rs 23.48 cr.
Technical View:
Godrej Properties Ltd., is currently trading at Rs. 351.05, down by 7.45 points or 2.08% from its earlier closing of Rs. 358.5 on the BSE.
The scrip has touched a high and low of Rs. 353.7 and Rs. 301 respectively, after opening at 351. By far 1279818(NSE+BSE) shares were traded on the counter; and the stock is currently trading above its 100 DMA.
Bloomberg estimates were abov Godrej Properties Ltd.’s actual consolidated Q2FY17 results. Revenue has come in 20.8% lesser than the estimate of Rs 416 cr. EBITDA dropped by 70.6% yoy than the estimated figure of Rs 80 cr. Net profit is 56.4% lesser than the estimated figure of Rs 54 cr.
The quarter's revenue has dropped 74.9% yoy to Rs 329.55 cr. This was majorly triggered by 41% yoy drop in area sold and 69% yoy drop in booking.
Godrej's EBITDA has dipped by 81.1% yoy to Rs 23.55 cr led by shrinking in EBITDA margins by 231 bps yoy to 7.2%.
The company's net profit has dipped 75.6% yoy to Rs 23.48 cr. This was led by surge in finance cost by 170% yoy and other income dropping by 17% yoy.
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