BackGodrej Industries’ Q3 profit rises 53% to Rs139 crore
Profit rose in the December quarter due to a better operational performance and exceptional gains
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Mumbai: Godrej Industries Ltd on Friday reported a 53% rise in its consolidated net profit for the quarter ended December 2015 due to a better operational performance and exceptional gains.
Godrej Industries reported a net profit of ₹ 139 crore for the quarter under review, against a net profit of ₹ 91 crore in the same period a year ago.
Net sales rose 7% to ₹ 2,388.79 crore from ₹ 2,236.56 crore a year ago. The company also reported an exceptional gain of ₹ 91.36 crore on sale of long-term investments, against ₹ 46 crore in exceptional gains in the same period a year ago.
“In a challenging environment for the real estate sector, Godrej Properties has surpassed ₹ 1,200 crore in bookings for the third consecutive quarter of this financial year. Despite a poor monsoon and subdued commodity prices, Godrej Agrovet had a steady performance in this quarter with total income increasing by 14% over the corresponding quarter of the previous year. Godrej Consumer Products delivered a resilient and competitive performance in Q3 FY16, despite challenging operating environment," Adi Godrej, chairman, Godrej Industries, said commenting on each of the segments the company has a presence in.
On Friday, Godrej Industries closed at ₹ 311.35 per share, 1.38% lower than its previous close, while India’s benchmark Sensex index rose 0.15% to close at 22,986.12 points.
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