Godrej Industries Q1 net at 16 cr

Godrej Industries today reported a consolidated net profit of Rs 16.36 crore for the first quarter ended June 30 while it was Rs 52.82 crore in the same quarter last year.

The results for the quarter are not strictly comparable with those of the previous quarter due to change in the company's shareholdings in some of its subsidiaries, joint ventures, associates and business restructuring, Godrej Industries said in a filing to the Bombay Stock Exchange.

The consolidated total income of the company stood at Rs 778.75 crore during the April-June period of this fiscal, whereas the same was at Rs 841.28 crore during the corresponding period last fiscal.

"I believe that the Indian economy has taken a positive turn during the quarter, which is a very encouraging sign for all our businesses," Godrej Industries Chairman A B Godrej said.

On a standalone basis, the company posted a net profit of Rs 58 lakh in the June quarter of FY10, while the same was at Rs 17.26 crore same period last year.

The company has presence in the businesses of oleo- chemicals, surfactants, edible oils, fats, processed foods, finance and investments and estate management.

Shares of Godrej Industries today closed at Rs 152.10, down 2.12 per cent from its previous close on the BSE.