Godrej Industries Posts 16% Fall In Q4 Profit

New Delhi: Godrej Industries on Wednesday reported a decline of 16.42 per cent in consolidated net profit at Rs 116.13 crore for the fiscal fourth quarter that ended on March 31, 2016.

The company had posted a net profit of Rs 138.96 crore for the corresponding three-month period a year ago, it said in a filing to the BSE.

Net sales, in the quarter under review, were up 11.76 per cent at Rs 2,543.67 crore as against Rs 2,275.82 crore in the year-ago period.

The company posted a consolidated revenue of Rs 290.45 crore from the chemicals division and Rs 577.83 crore from the vegetable oil segment in the quarter under review. It was Rs 293.74 crore and Rs 546.12 crore, respectively in the year-ago period.

Revenue from the estate and property development and the animal feed segments in January-March quarter was Rs 537.11 crore and Rs 668.47 crore as against Rs 727.06 crore and Rs 630.48 crore, respectively, a year ago.

For fiscal year 2015-16, Godrej Industries' consolidated net profit was up 20.36 per cent at Rs 484.43 crore as against a net profit of Rs 402.47 crore for the previous fiscal year.

Net sales were up 16.55 per cent at Rs 10,579.63 crore in 2015-16 as against Rs 9,076.67 crore in 2014-15. 

"In a challenging environment for the real estate sector, Godrej Properties had its best ever year in every parameter. GPL registered its highest ever bookings, revenues, EBITDA, net profit, cash flows and deliveries," Godrej Industries chairman A B Godrej said.

"Despite a poor monsoon and subdued commodity prices, Godrej Agrovet had a steady performance in this fiscal with total income increasing by 14 per cent over the previous year... Our Chemicals business also had an encouraging performance in the fiscal year 2016," he added. 

Shares in Godrej Industries, on Wednesday, settled 0.61 per cent higher at Rs 348.75 apiece on the BSE, whose benchmark Sensex finished up 2.28 per cent.