Godrej Industries reports Q1 consolidated net profit at Rs 186 crore

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Godrej Industries on Friday reported a consolidated net profit of Rs 185.97 crore for the first quarter ended June 30, 2021.

The company had posted a net profit of Rs 107.14 crore for the year-ago period, Godrej Industries Ltd (GIL) said in a BSE filing.

Revenue from operations was at Rs 2,890.49 crore during the quarter. It was Rs 1,980.06 crore in the corresponding quarter last fiscal year.

Total expenses were at Rs 2,945.53 crore.

The company said its results are not comparable with the previous year periods as it has done acquisition and changes in the shareholding of some of its subsidiaries and joint ventures.

In view of acquisitions and changes in the company's / Group's shareholdings during the period/year in some of the subsidiaries, joint ventures and associates, the consolidated results for the period/year are not strictly comparable with those of the previous periods/year," it said.

GIL is a holding company of the Godrej Group. It has significant interests in consumer goods, real estate, agriculture, chemicals and financial services through its subsidiary and associate companies, across 18 countries.

GIL's revenue from the Chemicals segment was at Rs 621.43 crore. It was Rs 245.62 crore in the corresponding quarter of previous year.

Animal Feeds revenue was at Rs 1,001.29 crore. It was Rs 748 crore in April-June 2020-21.

Revenue from vegetable oils was at Rs 469.36 crore. It was Rs 260.73 crore in the year-ago quarter.

Revenue from Estate and Property Development was Rs 278.95 crore. The year-ago figure was Rs 207.08 crore.

Dairy business revenue was Rs 266.53 crore. The figure was at Rs 236.56 crore in April-June 2020-21.

Crop Protection revenue was at Rs 369.22 crore. It was Rs 320.84 crore earlier.

In a separate filing, GIL informed that Adi Godrej will step down as Chairman and from the Board of Directors with effect from October 1, 2021.

"He will continue to serve as Chairman of the Godrej Group and Chairman Emeritus of GIL. Nadir Godrej, who is currently Managing Director of GIL, will take over as Chairman and Managing Director of the company," it said.

Shares of GIL on Friday settled at Rs 562.05 apiece on BSE, down 0.57 per cent from previous close.