Godrej Industries has posted a 46.34 per cent increase in its consolidated net profit at Rs 71.33 crore during the first quarter ended June 30, 2011, compared with Rs 48.74 crore in the corresponding quarter previous fiscal.
According to a BSE filing, consolidated net sales for the three months ended June 30, 2011 increased 35.85 per cent to Rs 1,307.42 crore from Rs 962.39 crore in the corresponding period last fiscal.
“We have started the year on an optimistic note. Our strategy for growth ‘create’ continues to form the basis for all our strategic decisions, enabling enhanced performance at the consolidated level,” the Group Chairman, Mr Adi Godrej, said in a statement today.
He said the company’s agri businesses reported strong growth in revenues and profits owing to robust demand for products across segments.
“Godrej Properties witnessed a revenue growth of 83 per cent despite a difficult quarter for the real estate sector,” he said.
In the case of Godrej Consumer Products Ltd (GCPL), enhanced penetration and improved volumes drove the sales growth.
The consolidated results include the earnings of chemicals business, GCPL, Godrej Properties and Godrej Agrovet.