MUMBAI: Godrej Industries has reported a 28% increase in consolidated net profit to Rs 53 crore for the first quarter ended June 30, 2013, as compared to Rs 41 crore in the corresponding quarter last year. Consolidated total income during the period rose 6% to Rs 1,945 crore from Rs 1,834 crore.
"Our results this quarter have demonstrated the strength of our business model which captures a diverse range of businesses in some of the key growth sectors of the economy. Overall performance has been encouraging as some of the core operations registered sustained growth," said Adi Godrej, chairman, Godrej Industries.
"Our agri businesses have commenced the year on a strong note with the top - line increasing by 27% and operating profit increasing by 37%, driven mainly by the animal feed and agri-inputs segments. Our joint ventures also reported improvement despite a volatile external environment as the impact of bird flu diminished and feed costs stabilized. Godrej Seeds continues to expand its revenues and outreach to newer geographies. Overall the quarter was a heartening period for Godrej Agrovet, encouraging us to gear up for greater opportunities in the coming future," said Godrej.
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