Godawari Power and Ispat Q1 results: Net profit grows 24% to Rs 287 cr

Godawari Power and Ispat on Wednesday posted 24 per cent rise in consolidated net profit at Rs 286.89 crore for June quarter FY25, helped by reduced expenses.

Net profit from ordinary activities after tax was at Rs 230.88 crore in April-June FY24, the company said in an exchange filing.

Total income rose to Rs 1,372.42 crore from Rs 1,344.37 crore in the same quarter a year ago.

Expenses reduced to Rs 987.30 crore from Rs 1,063.00 crore in first quarter last financial year.

The company's board has also approved the appointment of MD Bajrang Lal Agrawal as the chairman with effect from August 9, 2024, in place of Shashi Kumar.

Besides, the board approved a proposal for payment of a special dividend of Rs 1.25 per equity share of Rs 5 each on the occasion of 25th anniversary of the company. The payment will be made on or after August 28, 2024.

The board also approved a proposal for sub-division of equity share with face value of Rs 5 each into 5 equity shares of Re 1 each, subject to approval of the shareholders.