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Godrej Agrovet Q4 results: Net profit falls over 42% to Rs 69.20 crore

New Delhi: Godrej Agrovet Ltd (GAVL) on Monday reported a 42.65 per cent decline in consolidated internet profit at Rs 69.20 crore through the fourth quarter ended March 31 due to greater bills.

The firm’s internet profit stood at Rs 120.68 crore within the year-ago interval, it stated in a regulatory submitting.

Its earnings rose to Rs 1,627.68 crore throughout January-March quarter from Rs 1,390.91 crore within the year-ago quarter.

Total bills additionally rose to Rs 1,548.05 crore as towards Rs 1,349.17 crore a yr in the past.

For fiscal 2019-20, the corporate’s consolidated internet profit declined to Rs 300.58 crore as towards Rs 349.33 crore within the earlier yr.

Total earnings elevated to Rs 6,964.04 crore in FY20 from Rs 5,917.73 crore a yr in the past.

Expenses additionally shot up to Rs 6,665.25 crore through the yr from Rs 5,593.95 crore in 2018-19.

The firm stated its efficiency had began displaying good restoration at first of the fourth quarter, however false rumours of coronavirus an infection by means of poultry in starting of February 2020 considerably impacted quantity, costs and thereby the profitability of two companies — animal feed and Godrej Tyson.

Further, the outbreak of COVID-19 in mid-March 2020 in India affected gross sales in different segments additionally. This adversely impacted the efficiency of the fourth quarter, it stated.

However, on the constructive facet, efficiency in Astec, oil palm plantation and aqua feed was robust which supported the quarterly efficiency, it added.

The firm, whose companies are a part of important commodities, stated it resumed operations in April 2020 after acquiring needed approvals from native authorities.

The factories are presently operational and have deployed well being and security protocols throughout all areas.

The firm stated it’s well-equipped to handle the present state of affairs primarily based on the robust enterprise continuity plan put in place.

“The demand for our products remains firm and our teams are relentlessly working towards providing uninterrupted supply of our essential products (feed, agrochemicals, dairy products, and poultry and processed food products) for animal husbandry, crop protection and household consumption,” it added.

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