Godrej Industries' net up 46% at Rs 78 cr

Net sales jump 23% to Rs 2,394 cr

Godrej Industries (GIL), a part of Godrej Group, has posted 46 per cent growth in its consolidated net profit at Rs 78 crore for the first quarter ended June 30, 2014 compared to Rs 53 crore in the corresponding quarter previous year. Net sales of the company rose 23 per cent to Rs 2394 crore for the first quarter of 2014-15 compared to Rs 1945 crore in the comparable quarter last year.

“Despite difficult economic environment, we posted healthy growth in our first quarter financial performance. During the quarter, we put lots of emphasis on cost containment and product innovations especially under Godrej Agrovet which yielded exceedingly well result for us,” said GIL chairman A B Godrej.

Going forward, also the company will continue to lay emphasis on the initiatives taken earlier. The company plans to continue production launches through Godrej Agrovet especially through bird feeds with the help of its existing research and development facilities.

“We hope, the economic environment in the country improves in the second half so that business from our construction segment also improves,” Godrej added.

In order to improve margins, the company replaced costly bird feeds from outside with cost-effective feeds through inhouse innovations and R&D.