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Godrej Industries Q4 profit rises 22%

LiveMint logoLiveMint 28-05-2014 Zahra Khan

Mumbai: Godrej Industries Ltd reported a 22% rise in profit for the March quarter.

Net profit for the three months ended 31 March rose to Rs114.30 crore from Rs93.67 crore a year ago. Total income from operations rose 37% to Rs1,992.25 crore.

“All our businesses have done well this quarter, the highlight was our Godrej Agrovet business whose profitability was up 80% and we expect all our business to grow very well this fiscal. We are sure the new government will be able turnaround the economy and bring back 8% growth,” chairman Adi Godrej said.

Consolidated income for Godrej Agrovet Ltd was at Rs800 crore up 19% from a year-ago period. Godrej Industries’ chemicals business saw revenue at Rs364 crore and profit at Rs18 crore.

Financial year 2014-15 will be an exciting year for Godrej Properties with major launches planned in all the top real estate markets of India, Adi Godrej said.

Shares of Godrej Industries fell 2.83% to Rs293.50 on BSE while the benchmark Sensex was little changed at 24,556.09 points. The earnings were announced after the end of trading on Wednesday.

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