MUMBAI: Mumbai-based developer Godrej Properties’ net profit was up 130 per cent on account of transfer of two of its projects to a group of investors and a rise in other income.
Net profit rose to Rs 39.47 crore for the first quarter ended June 2013 against Rs 17.15 crore in the year-ago period.
However, on a quarter-on-quarter basis, the company witnessed a fall in net profit from Rs 53.21 crore in the quarter ended March 2013.
Total income from operations saw a slide on a year-on-year-basis to Rs 201.57 crore (Rs 226.10 crore).
Other income stood at Rs 42.71 crore (Rs 6.69 crore).