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    Godrej Agrovet surges 7% as animal feed firm posts blockbuster Q4 earnings

    Synopsis

    Revenue from operations of the company went up by 42.62 per cent during the quarter under review at Rs 2,075.62 crore compared to Rs 1,455.25 crore in the same period of the previous fiscal, PTI reported.

    Godrej Agrovet surges 7% as animal feed firm posts blockbuster Q4 earningsiStock
    For the full year, the company posted a 20.59 per cent growth in profit at Rs 419.15 crore compared to Rs 347.57 crore in FY21, PTI’s report said.
    NEW DELHI – Shares of Godrej Agrovet shot up 7.2 per cent in early trade on Tuesday as the animal feed company reported a rise of 120.59 per cent in its consolidated profit at Rs 139.81 crore during the quarter ended March 2022 compared to the same period of the preceding financial year.

    The company's profit stood at Rs 63.38 crore during the corresponding period of the previous fiscal.

    Godrej Agrovet’s counter rose to a high of Rs 565 as against Rs 526.85 at previous close on the BSE.

    Revenue from operations of the company went up by 42.62 per cent during the quarter under review at Rs 2,075.62 crore as against Rs 1,455.25 crore in the same period of the previous fiscal, PTI reported.

    For the full year, the company posted a 20.59 per cent growth in profit at Rs 419.15 crore compared to Rs 347.57 crore in FY21, PTI’s report said.

    Revenue from operations of the company in 2021-22 witnessed a growth of 32.90 per cent at Rs 8,292.93 crore compared to Rs 6,239.60 crore in FY21.

    “The financial year 2021-22 augured well for Godrej Agrovet in terms of topline growth with sustained rise in profitability. Most of our businesses registered a strong volume growth with the exception of our standalone crop protection segment. Growth in profitability was largely driven by animal feeds, vegetable oil and Astec LifeSciences, while crop protection and food businesses reported a decline in operating margin,” Godrej Agrovet managing director B S Yadav was quoted as saying by PTI.

    Animal feed business recorded double-digit growth in volumes in all the four quarters on the back of new product launches and increasing market penetration, while vegetable oil business reaped benefits of higher oil prices and improved efficiency levels throughout the year as segment results grew by 2.9 times year-on-year, he added. END



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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