Godrej Industries Q2 cons net up 24% at Rs 93 crore

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Godrej Industries Q2 cons net up 24% at Rs 93 crore

Godrej Industries’ second quarter consolidated net profit rose 24% year-on-year to Rs 93 crore, helped by strong across chemicals, FMCG and agri business divisions.

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Moneycontrol Bureau

Godrej Industries ' second quarter consolidated net profit rose 24% year-on-year to Rs 93 crore, helped by strong growth across chemicals, FMCG and agri business divisions.

The company's total income for the July-September was up 36% from a year ago to Rs 1,469 crore, Godrej Industries said Tuesday.

Among its major businesses, Chemicals division revenue rose 45% in the second quarter to Rs 340 crore. Chemical exports, which accounted for 44% of total chemicals business revenue in April-September, surged 77% from a year ago to Rs 149 crore in the second quarter, the company said.

Profit before interest and taxes in the chemicals business almost trebled to Rs 36 crore in the quarter.

There was also strong growth in the palm oils business, with sales increasing 95% to Rs 80 crore, Godrej Industries said. Agribusiness income surged 28% from a year ago to Rs 641 crore in July-September, it said.

Godrej Industries' animal feeds division saw a sales growth of 32% at Rs 405 crore during the three-month period.

Net Profit at its arm Godrej Consumer Products was up 44% year-on-year to Rs 367 crore on net sales of Rs 2,184 crore, up 30% from a year ago in April-September.

"Our Oleochemicals business has continued to grow steadily in terms of sales and profitability and exports sales saw a significant growth too. All the agri business verticals have been making steady progress on the back of quality products and an environment conducive to growth. The oil-palm business continues to surpass expectations despite softening CPO [crude palm oil] prices as FFB [fresh fruit bunch] volumes from maturing plantations propel growth for this segment," said Chairman Adi Godrej.

Godrej Industries shares Tuesday closed down 0.7% at Rs 207.15 on NSE.