The net profit of Godrej Agrovet increases marginally to Rs 102.6 cr in the quarter of September

New Delhi, November 4 () Godrej Agrovet Ltd reported on Monday a marginal increase in its consolidated net profit to Rs 102.65 crore for the quarter ended September.

Its net profit had been Rs 99.12 million rupees in the same period of the previous year, the company said in a regulatory document.

The company's total revenue increased to Rs 1,862.45 rupees during the second quarter of the current financial year, compared to Rs 1,622.11 rupees a year ago.

In the first half of the 2019-20 fiscal year, Godrej Agrovet Ltd's consolidated total revenues registered a year-on-year growth of 16.1 percent, said B S Yadav, managing director of Godrej Agrovet Ltd.

In the animal feed segment, the company continued to witness high growth, as volumes have grown 7.9 percent year-on-year during the first half of the year.

Its crop protection business recorded revenue growth of 9.1 percent. However, poor performance, increased input costs and postponement of export orders with respect to the B2B business (Astec LifeSciences) resulted in a 7.9 percent decrease in the profitability of this segment in the first half of 2019.

The performance of the vegetable oil segment for the first half of the year continued to be negatively affected by the sharp fall in prices of the final product and the lower oil content in the first half due to extended summer and extreme heat. Consequently, revenues and profits in the segment were 12.1 percent and 49.2 percent, respectively, said Yadav.

In the dairy segment, which recorded strong growth in Ebitda (earnings before interest, taxes, depreciation and amortization) of 89.5 percent, profitability levels improved in the current quarter and the first half since there were no provisions of butter or losses

Currently, India's agricultural value chain offers immense business opportunities to improve productivity, as practices are largely disorganized. We are well positioned to capitalize on these opportunities given our presence in poorly penetrated and disorganized segments of the agricultural value chain and our strong focus on research and development, said Yadav. MJH HRS