The Hindu Business Line : Godrej Industries net profit falls 66 pc in Q2

GODREJ Industries Ltd has reported a 66 per cent decline in net profit at Rs 12.57 crore for the second quarter of 2005-2006 from Rs 37.08 crore in the corresponding year-ago period.

The fall in profits is mainly because the company has made a higher provision for deferred tax. Besides, the income from exceptional item is much lower this quarter compared to the year-ago period.

Total income during the second quarter increased by six per cent to Rs 207 crore.

"The chemicals business continues to perform well and has contributed 62 per cent to the total revenue of the company. The new export-oriented unit at Valia, Gujarat, is also in progress, and will add significantly to the capacity. The foods business, too, has maintained the growth momentum, and has registered a revenue growth of 18 per cent this quarter,'' said Mr Adi Godrej, Chairman, Godrej Industries Ltd.

The chemicals division's revenue grew by 11 per cent during the first half at Rs 262 crore (Rs 236 crore). The foods division revenues rose by eight per cent to Rs 108 crore.

Godrej Agrovet's second quarter revenue grew by 11 per cent and that of Godrej Properties by 68 per cent.

The shares of Godrej Industries ended at Rs 238.20 from Rs 236.35, on the BSE.

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