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Godrej Industries Q2 Earnings; Net Profit at Rs 87 Crore

The company reported a 44.10% YoY decrease in its consolidated net profit at Rs 87.30 crore.

Godrej Industries on 8 November announced its earnings for the July-September quarter of the current fiscal year. 

The company reported a 44.10% year-on-year (YoY) decrease in its consolidated net profit at Rs 87.30 crore for the quarter under review from Rs 156.18 crore reported in the same quarter last year.

The consolidated revenue for the quarter saw a 2.07% YoY decrease to Rs 3,937.61 crore during the quarter from Rs 4,021.04 crore reported in the year-ago quarter. 

The company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter came in at Rs 265.5 crore, which is a 20.5% YoY jump from the year-ago quarter from Rs 220.3 crore reported in the same quarter during the previous fiscal year. The EBITDA margin expanded to 6.7% during the quarter from 5.5% recorded in the last financial year. 

Godrej Consumer Products, the company’s consumer business subsidiary, reported consolidated sales growth of 6%, led by volume growth of 10% and 16% constant currency YoY. 

Godrej Agrovet, the company’s agricultural business, reported a net profit of Rs 105 crore upon revenue of Rs 2,582 crore in Q2FY24. 

During the quarter under review, the company reported the highest-ever quarterly sales with a total booking value of rs 5,034 crore, with 5.24 million square feet of area being sold during the quarter. 

The board of the company has also approved raising Rs 1,500 by way of issuance of Unsecured Non-Convertible Debentures (NCDs) or bonds or other Instruments on a private placement basis in one or more tranches.

At 3:30 pm, the shares of Godrej Industries closed 1% higher at Rs 664.60 on NSE. 

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