With healthy contributions from almost all its businesses,diversified conglomerate Godrej Industries' PAT in Q1 FY 11 has zoomed 200 per cent at Rs 49-crore as against Rs 16-crore in the year-ago period. The consolidated total income for the company stood at Rs 1,101-crore,up 30 per cent from Rs 780-crore in the same period a year ago. "This has been a positive quarter for all the group companies.the big driver is India's improving economy. We see better quarters ahead due to good monsoons this year. It will provide adequate impetus to our agri-business segment. Godrej Properties has been on a high performance spree with strong growth both in topline and bottomline," Godrej Industries' Chairman,Adi Godrej,said here today. Going forward,the company's aim would be to focus on CREATE strategy - Consumer and Chemicals,Real Estate,Agri-business,Transformation and Emergent,he said. Its animal feeds business chipped in with the maximum contribution at Rs 297-crore followed by chemicals at Rs 218-crore and veg oils at Rs 214-crore. The company has earmarked a Rs 230-crore investment this year for setting up an oleochemical manufacturing unit at Ambernath. The facility will be operational by FY 13. The company's real estate arm,Godrej Properties,also contributed to the growth momentum at Rs 40-crore. Besides,the company's FMCG arm Godrej Consumer Products Limited (GCPL) has completed a series of strategic acquisitions across Asia,Africa and Latin America,in line with its aim to have a footprint in the three continents. The company is looking at consolidating the FMCG business by integrating the operations of Godrej Household Products Limited (GHPL),into GCPL. Other businesses such as the food and beverage division as well as the retail chain Nature's Basket contributed significantly to the overall performance. Started as a fresh food retailer in 2005,Nature's Basket is a gourmet store with 10 outlets in Mumbai and Delhi. All the 8 stores in Mumbai turned profitable at store-level in Q1 FY 11. Revenues grew 91 per cent at Rs 11-crore in Q1 FY 11 from a mere Rs six-crore in the same period last fiscal.
