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Godrej Properties slips nearly 5% despite robust Q4 numbers
Revenue of the company was up 408 percent at Rs 1,053 crore against Rs 207.41 crore.
The share price of Godrej Properties slipped nearly 5 percent intraday Tuesday despite company reported robust numbers for the quarter ended March 2019.
The company reported a 270 percent jump in its Q4FY19 net profit at Rs 156.6 crore against Rs 42.28 crore in the same quarter last fiscal.
Revenue of the company was up 408 percent at Rs 1,053 crore against Rs 207.41 crore.
The company board has approved raising of funds, including, by way of issuance of equity shares, fully convertible debentures, partly convertible debentures, non-convertible debentures, preference shares convertible into equity shares, and/or any other security convertible into equity shares in one or more tranches by way of preferential issue, qualified institutions placement and/or any combination thereof or any other mode as may be permitted under applicable laws, for an aggregate consideration not exceeding Rs 2,500 crore.
The company's consolidated EBITDA was at Rs 167 crore, while margin at 15.8 percent.
At 13:27 hrs Godrej Properties was quoting at Rs 824.25, down Rs 32.90, or 3.84 percent on the BSE
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