With robust performance from consumer products, the properties unit and share of profit in associate firms, Godrej Industries reported a 53% jump in its second quarter consolidated net profit to Rs.95 crore. The company reported an 11% jump in its revenues to Rs.2,523 crore. Property development and animal feeds provided for 55% of the PBIT of Rs.321 crore.
The company said it expected the coming quarters to be ‘even better’ due to lowering of GST rates. Adi Godrej, Chairman, Godrej Industries said, “The lowering of the GST rates from 28% to 18% will definitely help our consumer products division. The results will be better for the coming quarters given that it would reflect the financials of our recently listed Godrej Agrovet.”
“Overall, the economy is going good. We are seeing demand revival in rural areas,” he further added.