Real estate company Godrej Properties announced on Monday a combined net loss of Rs 191.62 crore for the quarter ended March on lower-income, as construction activities were affected by restrictions caused by the coronavirus.
The company posted a net profit of Rs 102.39 crore in the year-ago period.
Total revenue decreased to Rs. 576.08 crore in the fourth quarter of the 2020-21 fiscal year, up from Rs 1288.17 crore in the corresponding period of the prior year, Godrej Properties said in a regulatory filing.
In the full 2020-21 fiscal year, the company posted a net loss of Rs 189.43 crore, compared to a net profit of Rs 273.94 crore in the prior fiscal year.
Total income decreased to Rs. 1333.09 crore in the 2020-21 fiscal year, from Rs 2,914.59 crore in the previous year.
Mumbai-based Godrej Properties is the real estate arm of the business conglomerate Godrej group.