Godrej Industries receives 42 percent hike in Q4 net

By siliconindia   |   Tuesday, May 31, 2011
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Mumbai: Godrej Industries posted a 42.34 percent jump in its consolidated net profit for the quarter ended March 31 at Rs. 108.76 crore driven by strong performance by the real estate division and its subsidiary Agrovet. While the net profit for the corresponding January-March period last fiscal was Rs.76.41 crore. "Our subsidiaries Godrej Agrovet and Godrej Properties were the major contributors to the profit. Our in-house Oleo chemicals have reported very good results," Godrej Industries' Chairman Adi Godrej said. Godrej Industries makes industrial chemicals and hold stakes in other group firms like Godrej Agrovet which is a market leader in the animal feed, poultry and oil palm plantations in the country. When asked about the commodity prices affecting the company, Godrej said, "Commodity prices had been passed on in many places to the consumer. And lot of efficiency improvement that we brought about in our business helped us to tackle the commodity prices also. Also there was very strong growth in sales, both in terms of value as well as price." The company plans to relaunch most of its products this year, he said. "There is a lot of innovation related work that is helping us grow. There are lots of new products on the list, unfortunately, we can't talk about the new products until they are launched," he said. He added that Godrej Hershey's would soon launch its chocolate range, and Godrej Consumer products will be acquiring a few companies, but declined to give details. On his investment plans for the year, Godrej said that for Godrej Agrovet they were investing in many new factories, animal seeds, and in Godrej Properties they have 30 projects across 11 cities, but declined to give the expenditure for the same.
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