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MUMBAI: Godrej Industries Ltd has reported a 61 per cent increase in its third quarter profit after tax at Rs 22.6 crore (Rs 13.95 crore).

Total income edged down to Rs 190.50 crore from Rs 206.57 crore in the year-ago period.

"The chemicals business reported higher export sales for the nine month period and this would be further enhanced by the soon-to-be commissioned export oriented unit at Valia, Gujarat. This unit is expected to increase the capacity of fatty alcohol by about 60 per cent," the company said in a news release quoting Mr Adi Godrej, Chairman, Godrej Industries Ltd.

Downward pressure on fatty alcohol prices internationally is affecting the margins of this product category. The division is looking at value-added products to improve margins and reduce cyclical pricing pressures, the company said.

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