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Godrej Properties' Q2FY24 Financial Performance Review

Nov 2, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of Godrej Properties for the second quarter of fiscal year 2024 (Q2FY24) and analyze key metrics, including revenue, expenses, net profit, and margin.

REVENUE: 
Godrej Properties reported a total income of ₹605.11 crores in Q2FY24, representing a significant decline of 52.2% compared to Q1FY24, when the revenue was ₹1,265.98 crores. On a year-on-year (YoY) basis, there was substantial growth of 63.9% from ₹369.20 crores in Q2FY23.

EXPENSES: 
The company's total expenses for Q2FY24 amounted to ₹460.06 crores, reflecting a sharp decline of 58.99% compared to the expenses in the preceding quarter. On a YoY basis, expenses increased by 65.09% from Q2FY23.

NET PROFIT: 
Godrej Properties reported a net profit of ₹72.64 crores, showing a decline of 45.67% compared to the net profit of ₹133.69 crores sequentially. On a YoY basis, the company demonstrated moderate growth in profitability, with a 8.37% rise in net profit annually.

MARGINS:
Godrej Properties' margin in Q2FY24 was 12.00%, representing an improvement compared to the margin of 10.56% in the preceding quarter. Year-on-year, the margin displayed a decrease from the margin of 18.16% in Q2FY23.

In conclusion, Godrej Properties' financial performance in the second quarter of fiscal year 2024 reflects a notable recovery in revenue on a YoY basis, albeit a decline compared to the preceding quarter. The company has managed to control expenses, resulting in a positive impact on profitability. The margin also improved compared to the previous quarter, signaling a positive trend in their financial performance.

Stay tuned for more updates on upcoming financial performances.