Godrej Industries Q4 net down 16% to Rs 116 cr

Godrej Industries on Wednesday reported a decline of 16.42 per cent in consolidated net profit at Rs 116.13 crore for the fourth quarter ended March.

The company had posted a net profit of Rs 138.96 crore in the January-March quarter a year-ago, Godrej Industries said in a BSE filing.

Net sales of the company were up 11.76 per cent during the quarter under review at Rs 2,543.67 crore as against Rs 2,275.82 crore of the corresponding quarter of last fiscal.

The company posted a consolidated revenue of Rs 290.45 crore from the chemicals division and Rs 577.83 crore from vegetable oil segments during the quarter under review. It was Rs 293.74 crore and Rs 546.12 crore, respectively during the same quarter in last financial year.

While, revenue from estate and property development and animal feed segment in January-March quarter was Rs 537.11 crore and Rs 668.47 crore as against Rs 727.06 crore and Rs 630.48 crore, respectively.

For 2015-16, Godrej Industries’ consolidated net profit was up 20.36 per cent at Rs 484.43 crore as against a net profit of Rs 402.47 crore in the previous financial year.

Its net sales were up 16.55 per cent to Rs 10,579.63 crore in 2015-16 as against Rs 9,076.67 crore in 2014-15. “In a challenging environment for the real estate sector, Godrej Properties had its best ever year in every parameter. GPL registered its highest ever bookings, revenues, EBITDA, net profit, cash flows and deliveries,” Godrej Industries Chairman A B Godrej said.

He further said: “Despite a poor monsoon and subdued commodity prices, Godrej Agrovet had a steady performance in this fiscal with total income increasing by 14 per cent over the previous year... Our Chemicals business also had an encouraging performance in the fiscal year 2016.” Shares of Godrej Industries today settled 0.61 per cent higher at Rs 348.75 apiece on BSE.