Business conglomerate Godrej Industries Ltd on Wednesday (February 12) reported a 76.9% year-on-year (YoY) jump in net profit at ₹188.2 crore in Q3FY24 compared to ₹106.4 crore a year ago.
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Revenue from operations surged 34.4% to ₹4,824.8 crore against ₹3,590 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA (earnings before interest, tax, depreciation, and amortisation) increased 113.75% YoY to ₹596.8 crore in the third quarter of this fiscal over ₹279.2 crore. The EBITDA margin showed a steep rise to 12.4% in the reporting quarter versus 7.8% in Q3FY24.
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How the segments performed
Godrej Consumer Products Ltd (GCPL) saw a 14% YoY decline in consolidated net profit (excluding exceptional items and one-offs) due to temporary headwinds, while consolidated sales grew 6%. Home care revenue increased by 4%, with household insecticides facing seasonal weakness, but air fresheners and fabric care posted strong double-digit volume growth.
Personal care grew 2%, with personal wash volumes declining mid-to-high single digits, offset by price growth. Hair colour volumes grew mid-single digits, with Godrej Expert Rich Crème access packs showing double-digit growth. The sexual wellness segment grew in double digits and gained market share.
The chemicals segment performed strongly, with Q3 revenue up 44% and PBIT (profit before interest and taxes) surging 266%. For the nine months ending December 2024, revenue rose 21% while PBIT increased 36%. Exports, contributing 30% of total revenue, saw a 58% rise in Q3 and a 23% increase for 9M FY25.
Godrej Properties recorded ₹5,446 crore in booking value for Q3 FY25 from 4.07 million square feet of sales, marking the sixth consecutive quarter with bookings above ₹5,000 crore. The company added four new projects with a 5.9 million square feet saleable area and an estimated booking value of ₹10,800 crore.
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It delivered 2.6 million square feet of projects across two cities in Q3, bringing the YTD total to 11.9 million square feet. Additionally, it raised ₹6,000 crore in equity growth capital through India’s largest QIP by a real estate company.
Godrej agroovet saw its EBIT per tonne soaring 45% YoY from ₹1,338 in Q3FY24 to ₹1,935 on favourable commodity positions. The vegetable oil segment saw a 72% increase in results, driven by higher realisations in crude palm oil and palm kernel oil, along with improved oil extraction ratios.
The crop protection business posted ₹193 crore in consolidated revenue, down from ₹222 crore year-on-year. The dairy segment’s revenue and margins remained flat YoY due to stable volumes with voluntary controls.
The results came after the close of the market hours. Shares of Godrej Industries Ltd ended at ₹812.10, down by ₹25.85, or 3.08%, on the BSE.
