Godrej Agrovet Ltd. has reported financial results for the period ended June 30, 2018.
The company has reported net sales of Rs.1488.21 crores during the 3 months period ended June 30, 2018 as compared to Rs.1371.40 crores during the 3 months period ended June 30, 2017.
The company has posted net profit of Rs.80.97 crores for the 3 months period ended June 30, 2018 as against Rs.76.07 crores for the 3 months period ended June 30, 2017.
The company has reported EPS of Rs.4.14 for the 3 months period ended June 30, 2018 as compared to Rs.3.95 for the 3 months period ended June 30, 2017.
|Total Income||₹ 1488.21 crs||₹ 1371.40 crs|| 8.52%|
|Net Profit||₹ 80.97 crs||₹ 76.07 crs|| 6.44%|
|EPS||₹ 4.14||₹ 3.95|| 4.81%|
Commenting on the performance of the 1QFY19, Mr. B. S. Yadav, Managing Director, Godrej Agrovet Limited, said: I am pleased to share that in the first quarter of the financial year 2018-19, Godrej Agrovet Limited's consolidated total income and consolidated profit before tax registered year-onyear growth of 8.5% and 9.1%, respectively.
Our animal feed business maintained the momentum seen in the last two quarters and registered a year-on-year volume growth of 19.0% during this quarter. Oil palm plantation business benefitted from the high palm oil prices and registered segmental revenue growth of 28.5% year-on-year. While revenues in the crop protection business were lower than last year due to the introduction of GST with effect from July 1, 2017, we continue to increase profitability levels in the business. In our dairy business, new launches of thick shakes and flavored yogurts during the quarter received encouraging response from customers. However, the performance in the dairy business was impacted by high provisioning costs as butter prices were low during the quarter.
Currently, the Indian agricultural value chain offers immense business opportunities to enhance productivity as practices are largely unorganized. We believe that at Godrej Agrovet we are well placed to capitalize on these opportunities given our presence across underpenetrated & unorganized segments of the agri value chain and our strong focus on research and development. The primary elements of our business strategy are to continue to grow our existing market share, leverage synergies between our businesses and opportunistically evaluate inorganic opportunities.