Godrej Agrovet Q2 Profit Declines 7.9%

29 Oct 2024 , 11:22 PM

Godrej Agrovet Ltd. experienced a 7.9% decline in net profit for Q2, reaching ₹95.8 Crore year-on-year (YoY), while overall revenue dropped by 4.6% to ₹2,448.8 Crore.

At the time of closing on October 29, 2024, shares of Godrej Agrovet Ltd closed at ₹745 which is a 2.68% gain than hte previous close. The shares has gained a total of 59% in the last one year, and 33% since the beginning of the year.

Despite revenue challenges, the company achieved a 13.2% increase in EBITDA, reaching ₹223.4 Crore, highlighting gains in operational efficiency. Profit margins improved from 7.7% last year to 9.1% this quarter, reflecting focused efforts on cost management and productivity improvements.

The agribusiness segment faced competitive pressures impacting revenue across various units, including animal feed and crop protection, though EBITDA growth demonstrated resilience in core operations.