"Despite delayed monsoon, agri businesses registered sustained momentum in revenues and marked improvement in profitability while Godrej Properties reported healthy financial performance during the quarter with revenues and net profit growing by 49 percent and 16 percent respectively," AB Godrej, chairman explained.
Godrej Industries , which engaged in the businesses of oleochemicals, surfactants, finance & investments and estate management, has started off the year with strong earnings growth across segments. Net profit on a consolidated basis shot up 45.8 percent year-on-year to Rs 77.7 crore led by strong revenue growth and operational performance. Profit in corresponding quarter of last fiscal was Rs 53.3 crore.
Total income from operations grew by 23.7 percent to Rs 2,326.2 crore in the quarter ended June 2014 from Rs 1,879.8 crore in the year-ago period.
"Despite delayed monsoon, agri businesses registered sustained momentum in revenues and marked improvement in profitability while Godrej Properties (wherein Godrej Industries holds 60.76 percent stake ) reported healthy financial performance during the quarter with revenues and net profit growing by 49 percent and 16 percent respectively," AB Godrej, chairman explained.
The chemicals business, which reported 123.5 percent growth in earnings before interest and tax on revenue of Rs 349.50 crore (up 21 percent year-on-year), has benefited from various operational efficiency projects and by the full quarter operations at the new Ambernath facility. AB Godrej expects this trend to continue.
During the quarter, operating profit (EBITDA) jumped 54.3 percent to Rs 125 crore in the quarter gone by and margin expanded by 110 basis points to 5.4 percent.
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