Godrej Agrovet Q2 net drops 38% to 69.6 cr on fluctuating commodities prices.
- On Friday, animal feeds and vegetable oil divisions reduced Godrej Agrovet Ltd.’s second-quarter profit by 34.3%.
- In the three months ending Sept. 30, the company’s consolidated earnings dropped from 1.09 billion rupees to 717.6 million rupees ($8.7 million).
- As raw materials costs and inflation increased, its animal feed and vegetable oil earnings before interest and tax plummeted 14.5% and 16%, respectively. 23.67 billion rupees were spent.
- Operations revenue rose 13.5% to 24.45 billion rupees.