Indian conglomerate Godrej Industries, a business with interests in products from poultry to chocolate, has today (26 January) booked a jump in quarterly profits.
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Godrej, which runs an Indian confectionery venture with US chocolate giant Hershey, posted third-quarter pre-tax profits of INR280m (US$6m) for the three months to the end of December – compared to INR19m a year earlier.
The jump in profits was driven by a recovery in Godrej’s chemicals business and higher earnings from the conglomerate’s property portfolio.
However, the company said revenues from key confectionery brands had grown during the quarter, with sales of Hershey Milk Mix more than doubling.
Godrej’s group turnover climbed 8% to INR9.1bn.
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By GlobalData
