Indian Godrej Agrovet profit jumps on core business growth, land sale gain
- Consolidated profit stood at 1.05 billion Indian rupees
India’s Godrej Agrovet posted a 48% jump in quarterly profit on Thursday, helped by strong growth in its animal feed and crop protection segments, as well as a one-time gain from the sale of land.
Here are some details:
Total revenue rose 9.3% to 23.33 billion rupees during the quarter.
Revenue from animal nutrition, the company’s largest segment accounting for over 50% of quarterly revenue, rose 10.8% to 12.70 billion rupees.
Crop protection revenue climbed 15.6%, recovering from weather disruptions in the prior quarter; palm oil and dairy businesses remained under pressure.
Total expenses for the Godrej Industries’ unit rose 10%.
Consolidated profit stood at 1.05 billion rupees, up from 707.8 million rupees a year earlier.
Profit was also lifted by a one-time gain of 334.8 million rupees from the sale of land.
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