Mumbai, July 30: Godrej Agrovet Ltd on Saturday reported a decline in its profit before tax (PBT) to Rs 102.8 crore in the quarter ended on June 30, as compared to Rs 126.2 crore reported in the corresponding period last fiscal.
The consolidated total income increased to Rs 2,517.5 crore from Rs 2,003.2 crore, registering a growth of 25.7 per cent year-on-year basis, a statement from the company said.
The company reported consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Rs 169.3 crore as compared to Rs 180.0 crore last fiscal.
Commenting on the performance, B S Yadav, Managing Director, Godrej Agrovet Ltd, said: ‘ Godrej Agrovet started financial year 2022-23 with a robust growth in volumes and topline in the first quarter ended on June 30, 2022. All of our businesses, with the exception of crop protection, registered a strong volume growth.
“We achieved year-on-year growth of 25.7 per cent to clock total income of Rs. 2,517.5 crore in Q1 FY23.
”However, it was a challenging quarter in terms of profitability as most of our businesses recorded margin contraction owing to a combination of factors such as high cost inventory, input cost inflation, deferment of sales and limited transmission.
“Decline in margin was witnessed in animal feeds, crop protection and dairy businesses while vegetable oils and poultry segments reported a growth in operating margin,” he said.
(UNI)
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