Mumbai: Godrej Industries on Tuesday reported 24% growth in profit at Rs 93 crore for the quarter ended 30 September, compared to the corresponding quarter last year as all verticals of the Group did healthy business.
The company’s net profit for the second quarter in FY11 stood at Rs 75 crore.
Godrej Industries chairman Adi Godrej. File photo.
“I am happy to share that the quarter has been good for all our operating businesses, thereby reinforcing the efficacy of our business model and create our strategy for growth,” Godrej Industries chairman Adi Godrej told PTI here.
Total income for the quarter increased by 36% to Rs 1,469 crore as compared to Rs 1,083 crore.
“Looking at GIL’s healthy performance in both, quarter one and two, we expect the whole year to end at a strong footing,” he added.
GIL’s oleochemicals business has continued to grow steadily in terms of sales and profitability and exports sales also witnessed a significant growth.
All the agri-business verticals have been making steady progress, especially the oil-palm business continued to surpass expectations, despite softening CPO prices as FFB volumes from maturing plantations propel growth for this segment.
Similarly, Godrej Consumer Products witnessed one of the strongest growth with robust performance in both the domestic and global markets.
Godrej Properties saw a robust growth despite a difficult quarter for the real estate sector.
“This quarter has been eventful for Godrej Properties, as we finalised five joint development deals, including projects in Mumbai, Gurgaon, Hyderabad and Nagpur for developing 8 million sq ft. In Q3 FY2012, we concluded a landmark deal with Godrej & Boyce for all future development on the Vikhroli land parcel,” he added.