 "Godrej Industries Q3 net profit at Rs 183 crore; revenue at Rs 3,515 crore")
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Godrej Industries Ltd on Friday reported a profit after tax of Rs 182.78 crore for the third quarter ended December 2021 and announced investment of up to Rs 2,500 crore in two subsidiaries Godrej Properties and Godrej Agrovet Ltd.
The company had posted a net profit of Rs 170.66 crore in the October-December quarter a year ago, Godrej Industries Ltd (GIL) said in a BSE filing.
Its revenue from operations was at Rs 3,514.61 crore during the quarter. It stood at Rs 2,356.4 7 crore in the corresponding quarter last fiscal.
Total expenses were at Rs 3,510.03 crore.
Godrej Industries said its results are "not comparable with those of the previous periods/year" in view of acquisitions and changes in the company's/ group's shareholding during the period in some of the subsidiaries, joint ventures and associates.
Godrej Industries further said its board has approved a further investment of up to Rs 2,000 crore in Godrej Properties by way of subscription and purchase of securities or otherwise.
It has also approved an investment of up to Rs 500 crore in Godrej Agrovet.
Shares of Godrej Industries Ltd on Friday settled at Rs 570.65 on BSE, down 2.06 per cent from the previous close.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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