Diversified business firm Godrej Industries today posted a 23.72% increase in its consolidated net profit to Rs 92.83 crore in the quarter ended September 30, 2011 as against the same period last fiscal.
In the corresponding quarter last fiscal, the company had a consolidated net profit of Rs 75.03 crore, Godrej Industries
said in a statement.
During the quarter under review, the firm's consolidated net sales stood at Rs 1,399.19 crore, an increase by 41.38% from Rs 989.60 crore in the year-ago period.
"Our olechemical 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...." Godrej Chairman A B Godrej said in a statement.
On a standalone basis, the company had nearly doubled its net profit to Rs 84.18 crore from Rs 44.42 crore posted in the corresponding quarter last fiscal.
The firm's standalone net sales stood at Rs 348.86 crore, a 43.66% increase from Rs 242.83 crore recorded in the year-ago period.
"An important development during the quarter was the launch of 'Godrej Seeds & Genetics Limited', which will enable us to consolidate our plans of venturing into the seeds business," Godrej added.
Scrips of Godrej Industries closed at Rs 207.10 per share on the BSE, down 0.84% from the previous close.