New Delhi, Feb 11 (PTI) Godrej Industries Ltd on Friday reported a profit after tax of Rs 182.78 crore for the third quarter ended December 2021 and announced investment of up to Rs 2,500 crore in two subsidiaries Godrej Properties and Godrej Agrovet Ltd.

The company had posted a net profit of Rs 170.66 crore in the October-December quarter a year ago, Godrej Industries Ltd (GIL) said in a BSE filing.

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Its revenue from operations was at Rs 3,514.61 crore during the quarter. It stood at Rs 2,356.4 7 crore in the corresponding quarter last fiscal.

Total expenses were at Rs 3,510.03 crore.

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Godrej Industries said its results are "not comparable with those of the previous periods/year" in view of acquisitions and changes in the company's/ group's shareholding during the period in some of the subsidiaries, joint ventures and associates.

Godrej Industries further said its board has approved a further investment of up to Rs 2,000 crore in Godrej Properties by way of subscription and purchase of securities or otherwise.

It has also approved an investment of up to Rs 500 crore in Godrej Agrovet.

Shares of Godrej Industries Ltd on Friday settled at Rs 570.65 on BSE, down 2.06 per cent from the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)