Godrej Properties on Monday reported a consolidated net loss of Rs 191.62 crore for the quarter ended March on lower income, as construction activities were affected due to coronavirus-induced restrictions. The company had posted a net profit of Rs 102.39 crore in the year-ago period.
Total income fell to Rs 576.08 crore in the fourth quarter of financial year 2020-21, from Rs 1,288.17 crore in the corresponding period of the previous year, Godrej Properties said in a regulatory filing.
In the full 2020-21 financial year, the company reported a net loss of Rs 189.43 crore, as against a net profit of Rs 273.94 crore in the previous fiscal.
Total income declined to Rs 1,333.09 crore in the 2020-21 fiscal, from Rs 2,914.59 crore in the previous year.
Mumbai-based Godrej Properties is a real estate arm of the business conglomerate Godrej group.