Godrej Industries records loss of Rs 92 crore in Q4 FY21

Godrej Industries reported a consolidated net loss of Rs 92.22 crore in Q4 FY21 as against a net profit of Rs 103.39 crore in Q4 FY20.

Net sales during the quarter increased by 16.3% year-on-year (YoY) to Rs 2610.69 crore. Total expenditure declined by 10% to Rs 2626.66 crore in Q4 FY21 over Q4 FY20.

Interest outgo increased by 6.1% to Rs 124.38 crore while depreciation costs were higher by 2.7% to Rs 62.76 crore in the fourth quarter compared with the same period last year.

Profit before tax in Q4 FY21 stood at Rs 6.21 crore, down 97% from Rs 210.46 crore in Q4 FY20. Current tax expense jumped 14.4% YoY to Rs 57.39 crore in the fourth quarter.

The company reported 39.6% fall in consolidated net profit to Rs 334.57 crore on 17.3% drop in 9333.51 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

The board of Godrej Industries has approved the re-appointment of Tanya Dubash and Nitin Nabar as whole-time directors.

It also approved the appointment of Pirojsha Godrej as an additional director (non - executive, non-independent), subject to the approval of shareholders.

Godrej Industries, a Godrej Group Company, is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantation and real estate.

The scrip rose 0.89% to end at Rs 564.45 on Friday.

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