Godrej Ind Q3 net jumps 39% to Rs 61 cr

Diversified business house Godrej today reported 38.74 per cent jump in its consolidated net profit for the quarter ended December 31, 2010 at Rs 60.77 crore.

The company had posted a net profit of Rs 43.80 crore in the corresponding period of the previous year, Godrej Industries said in a statement.

The consolidated total income during the third quarter of this fiscal increased by 18.72 per cent to Rs 1,024.17 crore from Rs 862.66 crore in the year-ago period, it added.

Commenting on the company's financial performance, Godrej Industries Chairman A B Godrej said: "I am happy to announce that all our operating businesses performed extremely well during the period under review, thereby reinforcing the efficacy of our business model and 'CREATE' -- our strategy for growth."

He said the company's oleo-chemicals business has shown strong growth in terms of sales and profitability.

"All our agri businesses reported significant growth in both sales and profitability over the corresponding quarter with plans to add capacities and launch new products to match the increased demand," Godrej said without giving details.

The company said that its real estate arm -- Godrej Properties -- is receiving "encouraging response" on its various projects across the country.