Godrej group company, Godrej Industries (GIL), posted a consolidated net profit of Rs 66.7 crore for the quarter ended September 30, against Rs 19.47 crore posted in the corresponding period last financial year.
However, its consolidated total income for the reporting quarter was down 7.6 per cent at Rs 896.1 crore versus Rs 965.2 crore posted during the same period last year. Godrej Industries CEO Adi Godrej attributed the fall in sales to the sale of Godrej HiCare.
On the positive side, he pointed out that both Godrej Agrovet and Godrej Properties did “extremely well this quarter”. GIL’s operating profit margin, too, was up 209 basis points during the reporting quarter.