Godrej Industries Q2 Results: Profit rises 9% YoY to Rs 156 crore, revenue jumps 23%

Godrej Industries on Monday reported that its consolidated net profit grew 9% to Rs 156 crore in the September quarter of FY23 against Rs 144 crore in the same quarter of FY22.

Its revenue from operations increased 22.59% to Rs 4,021 crore in Q2FY23 from 3,280 in Q2FY22. Whereas the total expenses of the company increased 23.27% to Rs 4,099 in Q2FY23 from Rs 3,325 in Q2FY22.

The EPS of the company also increased to Rs 4.64 in Q2FY23 from Rs 4.26 in Q2FY22.

Consolidated sales of its consumer business grew by 7% year-on-year, while consolidated EBITDA declined by 15% year-on-year. The consolidated net profit of consumer business also declined by 21% year-on-year.

In the chemicals business, revenues for Q2FY23 increased by 63% and H1FY23 increased by 62%. PBIT for Q2FY23 increased by 160% & H1FY23 increased by 197%, while exports for Q2FY23 stood at Rs 398 crore.

Godrej Industries’ real estate business recorded the highest ever 1st half sales - booking value stood at Rs 4,929 crore. Q2FY23 witnessed a total booking value of Rs 2,409 crore and a total booking volume of 2.71 million sq. ft.

Following the earnings announcement, shares of Godrej Industries fell nearly 3% to Rs 402.60 over its previous day’s closing price of Rs 413.80 per share.