Godrej Industries on Saturday reported 46.34 per cent growth in consolidated net profit at Rs. 71.33 crore for the first quarter ended June 30 over the same period last year following a strong performance by its consumer, chemical and agriculture businesses.

The company’s net profit stood at Rs. 48.74 crore in the first quarter of FY11.

“All our businesses performed well, especially our consumer, chemical and agriculture segments,” Godrej Industries Chairman Adi Godrej told PTI in Mumbai.

The consolidated net sales of the company for the three months ended June 30, 2011 increased 35.85 per cent at Rs. 1,307.42 crore from Rs. 962.39 crore in the corresponding period of last fiscal.

“We are in a major expansion mode and after this optimistic beginning, we expect strong performance in this fiscal as well as in FY13,” he said.

Godrej said the company’s agri-businesses reported a strong growth in revenues and profits owing to robust demand for products across segments.

“Godrej Properties witnessed revenue growth of 83 per cent despite a difficult quarter for the real estate sector.”

In case of Godrej Consumer Products Ltd (GCPL), enhanced penetration and improved volumes drove sales growth, he said.

GCPL’s international operations have also performed strongly during the period under review.

The consolidated results include earnings of chemicals business, GCPL, Godrej Properties and Godrej Agrovet.


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