Godrej Industries Q1 profit at Rs 186 cr

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Godrej Industries on Friday reported a consolidated net profit of Rs 185.97 crore for the first quarter ended June 30, 2021. The company had posted a net profit of Rs 107.14 crore for the year-ago period, it said in a BSE filing.

Revenue from operations was at Rs 2,890.49 crore during the quarter. It was Rs 1,980.06 crore in the corresponding quarter last fiscal year. Total expenses were at Rs 2,945.53 crore.

The company said its results are not “comparable” with the previous year periods as it has done acquisition and changes in the shareholding of some of its subsidiaries and joint ventures.

“In view of acquisitions and changes in the company’s / Group’s shareholdings during the period/year in some of the subsidiaries, joint ventures and associates, the consolidated results for the period/year are not strictly comparable with those of the previous periods/year,” it said.

In a separate filing, GIL informed that Adi Godrej will step down as Chairman and from the Board of Directors with effect from October 1, 2021.

“He will continue to serve as Chairman of the Godrej Group and Chairman Emeritus of GIL. Nadir Godrej, who is currently Managing Director of GIL, will take over as Chairman and Managing Director of the company,” it said.