Godrej group Q2 net profit rises nearly 24 per cent to around Rs93 crore

Godrej Industries Ltd has posted a 23.7 per cent rise in its net profit for the quarter ended 30 September 2011, at Rs92.83 crore, against a net profit of Rs75.03 crore during the quarter ended 30 September 2010. Total income of the group was up 35.38 per cent at Rs1,422.92 crore during the September 2011 quarter, against Rs1,050.99 crore during the previous-year quarter.

Consolidated profit before deprecation, interest and taxes (PBDIT) for Q2FY 2011-12 rose 25 per cent to Rs150 crore, helped by strong growth across chemicals, FMCG and agri business divisions.

Stand-alone net profit of the company rose over 89.5 per cent to Rs84.18 crore during the September 2011 quarter, from Rs44.42 crore during the previous-year quarter.

Total income of the company increased by 35.77 per cent to Rs397.02 crore during the September 2011 quarter, from Rs279.17 crore during the quarter ended September 2010, unaudited results released by the company showed.

"In view of change in the company's shareholdings in some of the subsidiaries, joint ventures and associates, as also restructuring, including acquisitions, divestitures / joint ventures in some of these companies, the consolidated results for the period are not strictly comparable with those of the previous period," the company said in a release.  

Among its major businesses, chemicals division revenue rose 45 per cent in the second quarter to Rs340 crore. Export of chemicals, which accounted for 44 per cent of total chemicals business revenue in April-September, surged 77 per cent to Rs149 crore in the second quarter from a year ago, the company said.