Mumbai: Godrej Industries Ltd, on Saturday reported a 46% rise in net profit for the three months ended 30 June, driven by growth in its agri-business and consumer products segment.

Net profit increased to Rs78 crore from Rs53 crore a year ago. Total income increased 23% to Rs2394 crore in the reporting quarter.

“It’s been a bright start to the financial year with robust growth reported across businesses. Despite delayed monsoon, our agri businesses registered sustained momentum in revenues and marked improvement in profitability," said Adi Godrej, chairman of Godrej Industries.

“We are confident that the agri businesses will continue to do well," Godrej added.

The agri business has started a dedicated research & development (R&D) centre on animal agriculture in Nashik, the statement said.

Godrej Agrovet Ltd., the firm’s agri-business unit reported a total income of Rs1096 crore, an increase of 16% year-on-year while the net profit was at Rs71 crore, a rise of 25% over the corresponding period a year ago.

The company’s consumer business, Godrej Consumer Products Ltd reported a 12% in net sales.

The chemical segment reported a revenue of Rs350 crore and a profit before interest and tax of Rs22 crore for the reporting quarter.

On Friday, shares of Godrej ended at Rs327.90 a piece on the BSE, down 3.22% from previous close while India’s benchmark Sensex Index fell 1.02% to close at 25329.14 points.

Close