Godrej Industries Q1 results: Consolidated net profit up 101% at Rs 139 cr

Godrej Industries Ltd (GIL) on Friday reported a 101% growth in its consolidated net profit at Rs 139 crore for Q1FY22. 

The company had posted a net profit of Rs 69 crore in the year-ago quarter (Q1FY21), GIL said in a regulatory filing. 

Its revenue stood at Rs 3,032 crore during the quarter under review. Godrej Industries' total income was Rs 3,101 crore, a 46% jump from Rs 2,119 crore in the year-ago quarter. 

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The company's consolidated sales grew by 24% year-on-year (YoY), whereas its consolidated profit was up by 38% YoY.

The home care segment saw a robust growth of 21% and was "broad-based across premium formats (aerosols, electrics and non-mosquito portfolio) and burning formats." The home hygiene category witnessed strong demand amidst the second wave of COVID-19, the company said.

The personal care segment also clocked an increase of 17%, continuing its momentum and delivering strong double-digit sales growth.

"Hair Colours recorded strong double-digit growth on a low base. Godrej Expert Rich Crème continues to perform well, backed by a strong marketing campaign," Godrej Industries said in its statement.

GIL's revenue from the chemicals segment stood Rs 621 crore in the June quarter this year. It was at Rs 246 crore in the corresponding quarter a year ago.

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Total income from the real estate segment was at Rs 232 crore, while it stood at Rs 165 crore in Q1/FY21.

"Q1 FY22 witnessed total booking value of Rs 497 crore and total booking volume of 0.77 million sq. ft. as compared to total booking value of Rs 1,531 crore and total booking volume of 2.51 million sq. ft. in Q1 FY21," the company said.

Vegetable oils segment revenue grew by 84% in Q1FY22 due to an increase in Crude palm oil and Palm Kernel oil prices.

While dairy business revenue was at Rs 267 crore, posting a growth of 13% as compared to the corresponding quarter of the previous year.

Crop protection revenue saw a growth of 15% as compared to the corresponding quarter of the previous year.