Godrej Industries Q1 net up 75%

Godrej Industries has reported a 74.81% jump in net profit at Rs 16.52 crore for the quarter ended June 30, 2006, (Q1FY07) when compared with Rs 9.45 crore for Q1FY06.

Net sales for the quarter were Rs 160.69 crore, 12% lower as compared to Rs 182.76 crore for the corresponding quarter last year.

Adi Godrej, chairman, Godrej Industries said: "The results are not comparable as the foods business was sold with effect from 31 March 2006. This quarter we have acquired 100% stake in Nutrine Confectionery, the market leader in the confectionery business through Godrej Beverages and Foods, one of our associate companies. We have also augmented capacity, made strategic investments in group companies and chemicals business and increased our focus on exports which is expected to improve the operating and financial performance going forward."