Government Propertiesome Trust (GOV) has reported a 31.54 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $11.58 million, or $0.16 a share in the quarter, compared with $16.91 million, or $0.24 a share for the same period last year.
Revenue during the quarter grew 3.84 percent to $64.48 million from $62.09 million in the previous year period.
Total expenses were $49.29 million for the quarter, up 6.34 percent or $2.94 million from year-ago period. Operating margin for the quarter contracted 180 basis points over the previous year period to 23.55 percent.
Operating income for the quarter was $15.18 million, compared with $15.74 million in the previous year period.
Receivables move up
Net receivables were at $49.35 million as on Sep. 30, 2016, up 20.59 percent or $8.43 million from year-ago.
Total assets went up marginally by 1.71 percent or $38.03 million to $2,265.07 million on Sep. 30, 2016. On the other hand, total liabilities were at $1,314.33 million as on Sep. 30, 2016, up 8.30 percent or $100.74 million from year-ago.
Return on assets moved down 10 basis points to 1.07 percent in the quarter. At the same time, return on equity moved down 45 basis points to 1.22 percent in the quarter.
Debt moves up
Total debt was at $1,246.80 million as on Sep. 30, 2016, up 8.47 percent or $97.39 million from year-ago. Shareholders equity stood at $950.74 million as on Sep. 30, 2016, down 6.19 percent or $62.70 million from year-ago. As a result, debt to equity ratio went up 18 basis points to 1.31 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
