Godrej Industries Q1 Results: Profit Jumps More Than Twofold

Godrej Industries Ltd.'s consolidated net profit more than doubled in the first quarter of the current financial year. The holding company of Godrej Group posted a profit of Rs 640.9 crore in the quarter ended June in comparison to Rs 291.4 crore in the year-ago period, according to an exchange filing on Tuesday.

Revenue decreased 5.7% year-on-year to Rs 4,247.9 crore in the June quarter in comparison to Rs 4,505.7 crore in the same period a year ago. Operating income, or earnings before interest, taxes, depreciation, and amortisation, was up 38% to Rs 333.97 crore.

The Ebitda margin expanded to 7.9% from 5.4% in the same period of the previous fiscal. The company reported an inventory writeback of Rs 2,011 crore as against the Rs 457 crore reported in the same period in previous year.

Shares of Godrej Industries were trading 0.22% lower at Rs 895 per share on the NSE, compared to a 0.82% decline in the benchmark Nifty at 2:40 p.m. The stock has risen 45.14% on a year-to-date basis and 87.45% in the past 12 months.