Godrej Properties’ share price move southwards

Godrej Properties’ share price move southwards   One of the biggest names present in the real estate industry, Godrej Properties has put up a poor show at the BSE after its disappointing Q2 numbers.

The investors saw the share price of the company going down by 5% due to the fact that the company reported a net profit of close to Rs 32.91 crore in the second quarter ended September 30, 2010, down from Rs 44.70 crore registered in the year-ago period.

In a similar dip on the NSE, the share price of the company went down by close to 4.13 per cent to Rs 698 a share. In fact, the total income of the company also took a beating in the past three months as it stood at Rs 83.70 crore in the second quarter from Rs 98.88 crore in the corresponding period of the last fiscal.

Nevertheless, the fact that sensex was also not at its best levels also created more chaos in the share movement.

For the record, the 30-share benchmark Sensex was trading at 19,883.79, down 241.26 points from the previous close last week.