Boston Properties (BXP) has reported 57.51 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $79.34 million, or $0.50 a share in the quarter, compared with $186.73 million, or $1.20 a share for the same period last year. Revenue during the quarter went down marginally by 0.74 percent to $625.23 million from $629.88 million in the previous year period.
Cost of revenue rose 3.84 percent or $8.76 million during the quarter to $236.68 million. Gross margin for the quarter contracted 167 basis points over the previous year period to 62.15 percent.
Total expenses were $467.62 million for the quarter, up 16.29 percent or $65.49 million from year-ago period. Operating margin for the quarter contracted 1095 basis points over the previous year period to 25.21 percent.
Operating income for the quarter was $157.60 million, compared with $227.75 million in the previous year period.
Revenue from real estate activities during the quarter went down marginally by 0.79 percent or $4.84 million to $606.51 million.
Income from operating leases during the quarter went down marginally by 1.01 percent or $4.99 million to $489.31 million. Revenue from tenant reimbursements was $92.56 million for the quarter, up 1.11 percent or $1.02 million from year-ago period.
Revenue from other real estate activities during the quarter was $24.64 million, down 3.41 percent or $0.87 million from year-ago period.
Receivables move upNet receivables were at $76.26 million as on Sep. 30, 2016, up 14.77 percent or $9.81 million from year-ago. Investments stood at $23.02 million as on Sep. 30, 2016, up 17.19 percent or $3.38 million from year-ago.
Total assets went down marginally by 1 percent or $190.36 million to $18,789.90 million on Sep. 30, 2016. On the other hand, total liabilities were almost stable over the past one year at $10,930.65 million on Sep. 30, 2016.
Return on assets moved down 134 basis points to 0.94 percent in the quarter. At the same time, return on equity moved down 131 basis points to 0.98 percent in the quarter.
Debt remains almost stableTotal debt was at $9,808.92 million as on Sep. 30, 2016, down 0.71 percent or $70.26 million from year-ago. Shareholders equity stood at $7,859.25 million as on Sep. 30, 2016, down 2.52 percent or $203.51 million from year-ago. As a result, debt to equity ratio went up 2 basis points to 1.25 percent in the quarter. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
