Godrej Ind net profit rises 16% in Q3

NEW DELHI: Godrej Industries Ltd's consolidated net profit for the December quarter rose 16.6% on year to 1.32 bln rupees.

Revenue from operations fell 12.6% to 23.56 bln rupees. Sequentially, the net profit fell 11.9% and revenue was 1.3% lower. The company's other income rose to 1.65 bln rupees from 1.59 bln rupees a year ago. In Oct-Dec, total expenditure, including finance cost, fell to 24.39 bln rupees from 27.17 bln rupees a year ago. Finance cost fell to 1.13 bln rupees from 1.2 bln rupees.

The company's operating margin contracted to 3.92% in Oct-Dec from 5.88% a year ago.

The company plans to acquire 95% stake in Godrej Housing Finance Ltd through its subsidiary Pyxis Holdings Pvt Ltd for 3.47 bln rupees, in order to expand its business.