Godrej Industries reports 42% fall in Q1 consolidated net

Godrej Industries has reported results for first quarter ended June 30, 2012.

On standalone basis, the company has reported a fall of 24.47% in its net profit at Rs 13.18 crore for the quarter, as compared to Rs 17.45 crore for the same quarter in the previous year. However, total income of the company has increased by 25.36% to Rs 388.45 crore for the quarter under review as compared to Rs 309.86 crore for the quarter ended June 30, 2011.

On consolidated basis, the company has reported a fall of 41.89% in its net profit at Rs 41.45 crore for the quarter, as compared to Rs 71.33 crore for the same quarter in the previous year. However, total income of the company has increased by 38.78% to Rs 1833.05 crore for the quarter under review as compared to Rs 1320.84 crore for the quarter ended June 30, 2011.

In view of change in the company's shareholdings in some of the subsidiaries, joint ventures and associates, as also business restructuring including acquisitions, divestitures/joint ventures in some of these companies, the consolidated results for the period are not strictly comparable with those of the previous period.