Mumbai, Oct. 30
Godrej Industries Ltd has seen a flat growth in profit for the quarter ended September 30. The company clocked a profit after tax (PAT) of Rs 12.64 crore for the quarter under review, as compared to Rs 12.57 crore for the corresponding period in the previous year.
The company registered a sales of Rs 203.56 crore, down from Rs 212.54 crore .
Meanwhile, the company clocked a 33 per cent increase in net profit for the six months ended September 30. The company clocked a profit after tax of Rs 29.16 crore for the period under review, as compared to Rs 22.02 crore in the corresponding period previous year. It clocked a sales of Rs 385.23 crore, as compared to Rs 399.55 crore.
Mr Adi Godrej, Godrej Industries' Chairman said, "Godrej Industries has reported an increase of 33 per cent in profit after tax at Rs 29.2 crore. The chemicals business has contributed 66 per cent to the total revenue of the company, though the margins are under pressure owing to industry cyclicality. The major subsidiaries and associates have been performing very well with Godrej Beverages and Foods launching a slew of new products and both Godrej Agrovet and Godrej Properties growing their respective businesses through joint-ventures, strategic alliances and launch of new projects."
Meanwhile, Godrej Consumer Products Ltd has seen a six per cent dip in net profit at Rs 26.14 crore
for the quarter ended September 30, 2006, as compared to Rs 27.81 crore for the quarter ended September 30, 2005.
Total income (net of excise) has increased from Rs 163.13 crore to Rs 183.06 crore . Mr Godrej told
Business Linethat the dip in net profit was because previous year's performance included other income.
He expected the six to eight percent price hike on soaps to contribute to a good forthcoming quarter. Shares of Godrej Industries closed at Rs 151.30, up five per cent.