This Article is From Feb 11, 2015

Godrej Industries Q3 Net Rises Nearly 40%

Godrej Industries Q3 Net Rises Nearly 40%

Godrej Industries today reported 38.96 per cent increase in consolidated net profit at Rs 90.65 crore for the quarter ended December 2014.

The company had posted a net profit of Rs 65.23 crore for the corresponding period of last fiscal, Godrej Industries said in a BSE filing.

Net sales of the company rose to Rs 2,236.56 crore in the quarter under review, up 14.09 per cent from Rs 1,960.23 crore in the corresponding period of the previous fiscal.

Commenting on the results, Godrej Industries Chairman A B Godrej said: "With an agile team, focus on improving operational efficiency and research and development in the agri space, I am confident that the agri business across verticals will continue to do well.

"Godrej Properties Limited had a good quarter delivering a growth of 112 per cent in total income, 26 per cent growth in net profit and 37 per cent increase in the volume of sales bookings."

During the quarter, overall expenses stood at Rs 2,215.79 crore, up 16.57 per cent as against Rs 1,900.7 crore in the same quarter a year ago.

Meanwhile, in a separate filing, the company said it has appointed P Ganesh as the Chief Financial Officer and Company Secretary of the company with effect from April 1, 2015.

"Clement Pinto, Chief Financial Officer and K R Rajput, Company Secretary will be stepping down from their respective positions, from the said date and will continue with Godrej Industries Limited in other capacities," the filing said, adding that P Ganesh shall be the Compliance Officer with effect from April 1, 2015.

Shares of Godrej Industries were trading 1.04 per cent down at Rs 305.30 apiece during afternoon trade on the BSE.