Godrej Industries Q4 net at Rs 93.67 cr

Godrej Industries today reported consolidated net profit of Rs 93.67 crore for the fourth quarter ended on March 31.

It had posted a net profit of Rs 42.72 crore in the same period in 2011-12 fiscal, the company said in a BSE filing.

The total income of the company during the quarter stood at Rs 1,457.54 crore. It was Rs 1,430.95 crore in same period in 2011-12 fiscal.

The company's expenses during the quarter under review declined Rs 1,368.47 crore of 2012-13 fiscal from Rs 1,405.08 crore in year-ago period.

For 2012-13, net profit stood at Rs 391.18 crore. It was Rs 291.61 crore in the previous financial year.

Total income of the company in the last fiscal was at Rs 6,964.32 crore in 2012-13 while it was Rs 5,612.09 crore in 2011-12 fiscal.

The results were not comparable with the previous fiscal due to changes in its shareholding in some of the subsidiaries and joint ventures, the company said.

"The company has sold part of it's holding in its subsidiary viz Godrej Agrovet Limited, entire holding in M'Modal Inc and its joint venture company viz Godrej Hershey Limited," the filing added.

Commenting on the results, Godrej Industries Chairman AB Godrej said: "Our agri businesses recorded encouraging growth in a challenging enviorment and despite a highly irregular monsoon."

He added that Godrej Properties witnessed a year of strong growth and continued momentum with revenues.

"For our chemical business, it has been a tough year on account of volatility in the global macro economic environment and raw material price fluctuations," Godrej said.

The company's board has recommended a dividend of Rs 1.75 per share of face value of Re 1 per share.

Shares of the company today fell by 1.40 per cent to settle at Rs 296.80 apiece on the BSE.