DUBAI, May 21 (Reuters) - Abu Dhabi developer Aldar Properties on Thursday reported a 39% fall in first-quarter profit, which it said was largely due to a one-off adjustment.
The developer made 302 million dirhams ($82.2 million) in the three months to March 31, compared with 493 million dirhams a year earlier, it said in a bourse statement.
Revenue was flat at 1.76 billion dirhams.
The developer said the coronavirus pandemic would impact its operating environment for this year, but added that it still had a robust balance sheet.
Aldar said it has 6.8 billion dirhams of free cash and undrawn credit facilities.
$1 = 3.6728 UAE dirham Writing by Alexander Cornwell; Editing by Tom Hogue