Godrej Properties (GPL) posted a 33.65 per cent decline in net profit for the quarter ended March 31, 2012, at Rs.39.8 crore against Rs.59.99 crore in the corresponding period in the previous fiscal. Total income grew 11.28 per cent to Rs.373.18 crore from Rs.333.53 crore, the company said.
“The margins have been under pressure mainly because of the increase in input as well as labour costs. However, we have been able to achieve healthy sales growth despite challenging economic conditions. We expect to deliver strong growth in 2012-13,” Godrej Group Chairman Adi Godrej said.
For the full year, the company posted a 25.16 per cent decline in net profit at Rs.97.93 crore against Rs.130.86 crore in the previous year. Total income stood at Rs.819.81 crore against Rs.558.91 crore.
