Godrej Industries’ arm aims for more joint product development

Godrej Industries (GIL) - subsidiary Godrej Appliances is eager to enter into joint product development pacts with other companies. At present, the company has technology collaboration with Bosch and Siemens Home Appliances to develop and market energy-efficient refrigerators. Godrej and Bosch has initiated developing energy efficient refrigerators and these products are likely to hit the Indian market around mid 2014.

Godrej Industries has posted 4-fold rise in its net profit at Rs 131.37 crore for third quarter ended December 31, 2012 as compared to Rs 28.51 crore for the same quarter in the previous year. However, total income of the company has decreased by 2.36% at Rs 346.11 crore for quarter under review as compared to Rs 354.47 crore for the quarter ended December 31, 2011.