Godrej Industries on Wednesday reported 38.96 per cent increase in consolidated net profit at Rs. 90.65 crore for the quarter ended December 2014, benefiting from lower input cost, including that of crude oil.
The company had posted a net profit of Rs. 65.23 crore for the corresponding period of last fiscal, Godrej Industries said in a BSE filing.
Net sales of the company rose to Rs. 2,236.56 crore in the quarter under review, up 14.09 per cent from Rs. 1,960.23 crore in the corresponding period of the previous fiscal. “The cost of crude oil has come down, which has helped the company in reducing fuel, transport and packaging cost,” Godrej Industries chairman A.B. Godrej said.
He said there has been almost all round growth across different business verticals in the quarter. “Most of the companies have done well. Godrej Consumer has registered over 35 growth in profit and 29 per cent by Godrej Agrovat. Godrej Properties has also done well with 26 per cent growth in profit,” Godrej said.
However, profit had declined in some of the segments such as chemicals and vegetable oil due to weak international markets, he added. On the outlook, Godrej said: “The economic momentum is very good and macro conditions are helping us to grow. We are positive about it.”
The company posted a consolidated revenue of Rs. 308.96 crore from the chemicals division and Rs. 614.99 crore from vegetable oil segments during the quarter under review. It was Rs. 334.84 crore and Rs. 610.91 crore, respectively during the same quarter last fiscal.
While, revenue from estate and property development and animal feed segment in October-December quarter was Rs. 663.47 crore and Rs. 561.81 crore as against Rs. 639.86 crore and Rs. 266.84 crore, respectively.
Meanwhile, in a separate filing, the company said it has appointed P. Ganesh as the chief financial officer and company secretary of the company with effect from April 1, 2015. “Clement Pinto, Chief Financial Officer and K.R. Rajput, Company Secretary will be stepping down from their respective positions from the said date and will continue with Godrej Industries Limited in other capacities,” the filing said, adding that P. Ganesh shall be the compliance officer with effect from April 1, 2015.
Shares of Godrej Industries closed 0.42 per cent up at Rs. 309.80 apiece on the BSE.
