Chemicals business recorded Q2 revenue at Rs 683 crore as compared to Rs 1219 crore during Q2FY23
Godrej Industries Ltd. has posted net profit for Q2 FY24 at Rs 87.30 crore, down 44.1 per cent in comparison to Rs 156.18 crore during the corresponding period last year. The company recorded revenue from operations at Rs 3937.61 crore, down 2.1 per cent as against Rs 4021.04 crore during Q2 FY23. The company EBITDA stood at Rs 265.5 crore, up 20.5 per cent on-year.
While the total income recorded by the company during the quarter in review was at Rs 4256.87 crore, Godrej Industries incurred total expenditure during Q2FY24 at Rs 4094.51 crore.
Meanwhile, Godrej Industries’ chemicals business recorded Q2 revenue at Rs 683 crore as compared to Rs 1219 crore during Q2FY23. The chemical industry as a whole facing strong headwinds impacting revenue and profit, the company said in its presentation. Exports for Q2FY24 stood at Rs 186 crore.
However, Godrej Agrovet has posted net profit of Rs. 105.38 crores for the period ended September 30, 2023 as against net profit of Rs. 105.32 crores for the period ended June 30, 2023. The company posted net profit of Rs.71.76 crores for the period ended September 30, 2022.
Godrej Agrovet has reported total income of Rs. 2582.10 crores during the period ended September 30, 2023 as compared to Rs. 2521.73 crores during the period ended June 30, 2023. The company reported total income of Rs.2454.15 crores during the period ended September 30, 2022. The animal feed volume witnessed good growth animal, primarily driven by cattle feed and aqua feed categories. Vegetable Oil posted revenue growth of 10.5 per cent in Q2FY24 as compared to the corresponding quarter of the previous year. Crop Protection Business’s Q2FY24 consolidated revenues stood at Rs. 379 crore as compared to Rs. 370 crore in the corresponding quarter of the previous year.
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