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Godrej Industries faces loss in Q4, standalone income up 33 pc

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Godrej Industries on Monday reported a standalone net loss of Rs 34.14 crore during the fourth quarter (Q4) ended March 31, 2017. However, the standalone total income for Q4 stood at Rs 479.14 crore — up 32.8 per cent.
The company’s standalone total income for Q4 of 2015-16 stood at Rs 360.83 crore.
On a consolidated basis, the company reported a net profit of Rs 95.23 crore for the quarter under review from a loss of Rs 57.03 crore during the same quarter in the last fiscal.
The company’s total income during the period rose to Rs 2,026.37 crore — up 4.91 per cent — from Rs 1,931.41 crore during Q4 of last fiscal.
For the financial year ended March 2017, the company posted a standalone net loss of Rs 145.24 crore from a profit of Rs 34.21 crore during the year ended March 2016. The total income stood at Rs 1,649.05 crore during the year.
“I am pleased to share that in FY17, Godrej Industries Limited recorded a healthy growth of 11 per cent in consolidated total income and a growth of 59 per cent in consolidated net profit,” Chairman, Godrej Industries, A. B. Godrej said in a statement.
On a consolidated basis, the company reported a profit of Rs 458.82 crore and total income of Rs 8,658.37 crore for the financial year 2016-17.
“FY17 has been a strong year for Godrej Properties for business development as it added seven new projects with a saleable area of 18 million square feet. It entered Noida market and sold more than one million square feet, despite weak market conditions,” Godrej said.
“As we look ahead, I feel confident of strong growth in the medium to long term. Post the remonetization of currency, the demand has improved in India. We are now getting back to the recovery seen during the pre-demonetization levels,” he added.

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