Godrej Industries’ Q2 results: For the quarter ending in September 2023, Godrej Industries reported a sharp decline in net profit of ₹87.3 crore, or 44.1% YoY. The business reported a ₹156.2 crore net profit for the same quarter the previous year.
Godrej Industries’ Q2 results: In Q2FY24, the company’s consolidated revenue from operations decreased 2.1% year over year to ₹3,937.61 crore from ₹4,021.04 crore.
During the second quarter of FY24, the company’s operating performance improved. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 20.5% to ₹265.5 crore from ₹220.3 crore, while the EBITDA margin increased to 6.7% from 5.5% year over year.
Godrej Consumer Products, the company’s consumer business subsidiary, reported 6% growth in consolidated sales year-over-year, driven by volume growth of 10% and 16% in constant currency. YoY, its net profit increased by 17%.
In the agricultural sector, Godrej Agrovet recorded a ₹105 crore net profit on ₹2,582 crore in revenue for the quarter that concluded in September 2023.
According to Godrej Industries, Q2FY24 saw the highest quarterly sales ever for Godrej Properties, with 5.24 million square feet of space sold and a total booking value of ₹5,034 crore.
During its November 8 meeting, the board of directors of Godrej Industries decided to raise the company’s maximum amount of Commercial Papers it can issue from ₹2,500 crore to ₹3,500 crore.
The board of the company also approved raising ₹1,500 crore through the private placement of bonds, non-convertible debentures (NCDs), and other instruments in one or more tranches.
Godrej Industries’ stock price was down 0.49% at ₹654.95 per share on the BSE at 2:10 PM.
