 "Godrej Industries Q1 net up at Rs 64 crore")
Godrej Industries on Thursday reported a consolidated net profit of Rs 63.76 crore for the first quarter ended June 30.
The company had posted a net profit of Rs 62.73 crore in the April-June quarter a year-ago, Godrej Industries said in a Bombay Stock Exchange (BSE) filing.
Its consolidated net sales were Rs 1,974.62 crore during the quarter under review. It was against Rs 1,427.81 crore of the corresponding quarter of the last fiscal.
"I am pleased to share that in Q1FY17 Godrej Industries Limited recorded a healthy growth of 33 per cent in consolidated total income," Godrej Industries chairman A B Godrej said.
Meanwhile, Godrej Industries said its results were not comparable due to changes in the shareholdings of its subsidiaries.
"In view of changes in the Company's shareholdings during the period in some of the subsidiaries, joint ventures and associates, the consolidated results for the period are not strictly comparable with those of the previous periods," the company said.
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The company posted a consolidated revenue of Rs 279.97 crore from the chemicals division and Rs 179.89 crore from vegetable oil segments during the quarter under review. It was Rs 306.89 crore and Rs 145.05 crore, respectively during the same quarter last financial year.
While, revenue from estate and property development and animal feed segment in January-March quarter was Rs 336.51 crore and Rs 698.53 crore as against Rs 234.16 crore and Rs 637.23 crore, respectively.
"After an excellent FY2016, Godrej Properties have made a steady beginning in Q1FY17. A couple of very important milestones were achieved in Q1FY17," Godrej said.
Over the outlook, he said:"We are hopeful that the good monsoons in India should lead to a pick up in rural demand later this year. We should also see a boost to consumption in India, following the implementation of 7th Pay Commission and the passing of the Goods & Services Tax".
Shares of Godrej Industries settled at Rs 395.50 on BSE, up 0.80 per cent from previous close.