Godrej Properties Limited reported a mixed financial performance for the third quarter, with profit growth at the bottom line even as operational metrics weakened sharply on a year-on-year basis.
The company’s net profit for the quarter rose by 20% year-on-year to ₹195.2 crore, compared with ₹162.6 crore in the corresponding quarter last year. The increase in net profit came despite a sharp contraction in revenue and a deterioration in operating profitability during the period.
Revenue for the quarter declined significantly, falling 48.6% year-on-year to ₹498.4 crore from ₹969 crore in Q3 of the previous financial year. The steep drop in revenue reflects weaker recognition during the quarter compared with a high base in the year-ago period.
At the operating level, performance remained under pressure. Godrej Properties reported an EBITDA loss of ₹182.7 crore for the quarter, against an EBITDA profit of ₹27.7 crore in the same period last year. The swing from operating profit to loss highlights elevated costs and lower operating leverage amid reduced revenue recognition.