Godrej net rises 44% to R293 crore

Written by Press Trust of India | New Delhi | Updated: May 31 2011, 08:14am hrs
Godrej Industries, part of the Godrej Group on Monday reported a 44 % increase in its consolidated net profit at R 293 crore for FY 2010-11 compared with R203 crore in the previous fiscal. The company's total income rose by 24% at R4,602 crore as against R3,716 crore previous year. Announcing the results, Adi Godrej, chairman of the Godrej Group said: Each of our core businesses reported marked improvement in performance. Concerted efforts taken at de-risking the oleo-chemicals business by improving contribution from specialty chemicals and a healthy growth reported by end-user industries have enabled such an enhanced performance .

The company said its board of directors at a meeting held on Monday have declared a final dividend of R1.75 per equity share of face value R1 each for the financial year 2010-11.

During the fourth quarter ending March 31, 2011, the estate and property development division posted a profit before interest and tax of R 125.73 crore, while revenue was at R361.19 crore, it said.

In the same period a-year-ago, the estate and property development division had posted profit before interest and tax of R 71.93 crore, while revenues were at R 231.44 crore. The chemicals division of the firm posted profit of R34.85 crore during the quarter, as against R15.43 crore in the year-ago-period. Revenue was at R300.26 crore, up from R209.85 during the year-ago period, it added.

The shares of the company on Monday closed 2.12% up at R 185.60 a piece on the BSE.