Godrej Industries reports 56% rise in Q2 net profit

Godrej Industries on Monday announced its financial results for the quarter ended on September 30. The company registered a consolidated net profit of Rs 82 crore during the quarter, a growth of 56%, as compared to Rs 52 crore during the same period last year.

The consolidated Profit After Tax for the first half of the current fiscal year stood at Rs 144, up by 26%. 

Commenting on the performance of the company, Adi Godrej, Chairman, Godrej Industries, said, "I am pleased to share that in Q2FY17 Godrej Industries Limited recorded a healthy growth of 56% in consolidated net profit. Godrej Agrovet’s revenues continued to grow by 53% through a healthy mix of organic and acquisitive growth and improved domestic demand aided by monsoon revival. Multiple tailwinds such as a good monsoon, MSP increase and pension scheme benefits will lead to better growth in India in the quarters ahead".

In a regulatory filing, the company said that its total income in Q2FY17 was Rs 2294.6 crore as against Rs 2685 crore in Q2FY16.

On Friday, the shares of the company closed at Rs 386 per piece, down 4.91%, or Rs 19.95 on BSE.