Godrej Inds slides on reporting net loss of Rs 312 cr in Q4

Godrej Industries declined 1.02% to Rs 787 after the diversified company reported consolidated net loss of Rs 311.81 crore in Q4 FY24 as compared to net profit of Rs 300.08 crore recorded in Q4 FY23.

Revenue from operations declined 5.87% year on year (YoY) to Rs 4,567.27 crore during the quarter ended 31 March 2024.

Profit before tax stood at Rs 122.34 crore in fourth quarter of FY24, declining by 82% from Rs 678.72 crore posted in same quarter last year.

Profit before interest tax depreciation and tax (PBIT) declined 43% to Rs 592 crore in Q4 FY24 from Rs 1,042 crore posted in corresponding quarter last year.

On full year basis, the companys consolidated net profit tumbled to Rs 59.97 crore in FY24 as against Rs 974.78 crore recorded in FY23. Revenue from operations marginally decreased to Rs 16,600.62 crore in FY24 as compared to 16,740.25 crore reported in FY23.

Meanwhile, the company's board has approved an investment of up to Rs 10 crore in Clean Max Kaze / Clean Max Enviro Energy Solutions or any other entity. This approval is in accordance with the Gujarat Renewal Energy Policy, 2023, and is granted even if the total investment exceeds the limits set by the Act, subject to further approval.

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.

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