Godrej Industries Q1 Profit Soars 81% on Strong Income Growth

14 Aug 2024 , 11:36 AM

Godrej Industries Ltd reported an 81% increase in consolidated net profit for Q1 FY2024, reaching ₹322.49 Crore, driven by higher income across its business segments. In the same period last year, the company’s net profit stood at ₹178.06 Crore, reflecting significant year-on-year growth.

Total income for the April-June quarter of FY2024-25 rose to ₹5,259.41 Crore, up from ₹4,893.40 Crore in the corresponding period of the previous year, according to the company’s regulatory filing.

Godrej Industries operates in diverse sectors, including chemicals, real estate, finance, and investments, contributing to its robust financial performance. Godrej Consumer Products Ltd (GCPL), a subsidiary, reported consolidated sales of ₹3,311 Crore in Q1 FY2024, showcasing strong business performance.

Godrej Properties saw its total income grow to ₹1,638 Crore during the April-June period, compared to ₹1,315 Crore in the same quarter of the previous year.

Godrej Agrovet experienced a decline in total income, reporting ₹2,360 Crore for the quarter, down from ₹2,522 Crore a year ago.

The chemicals business of Godrej Industries reported a slight increase in revenue, rising to ₹732 Crore from ₹726 Crore in the year-ago period.

According to an investor presentation, Godrej Industries holds a 23.7% stake in Godrej Consumer Products Ltd (GCPL), a 47.3% stake in Godrej Properties, a 64.9% stake in Godrej Agrovet, and an 89.8% stake in Godrej Capital.