(MENAFN- IANS) Mumbai, Nov 11 (IANS) Godrej Industries Limited (GIL) on Tuesday reported nearly 16 per cent year-on-year (YoY) decline in its net profit, attributed to owners, for the second quarter of the current fiscal (Q2 FY26) at Rs 242.4 crore.

The company had posted a profit of Rs 288 crore to its owners in the same quarter last year (Q2 FY26). As per the company's exchange filing, its profit fell nearly 31 per cent sequentially to Rs 349 crore.

However, the company's revenue from operations for the quarter under review increased 4.7 per cent YoY to Rs 5,032 crore, compared to Rs 4,804 crore in the corresponding period of the previous fiscal.

Despite the uptick in revenue, operational performance came under heavy pressure as the total expenses of the conglomerate for the period rose over 16 per cent to Rs 5,602.86 crore YoY from Rs 4,815.08 crore.

The performances of Godrej's businesses vary this quarter. With revenue of Rs 1,950 crore, the Real Estate & Property Development division was the largest contributor, while the Animal Feed business came in second with revenue of Rs 1,217 crore, followed by the Chemicals segment with Rs 1,059 crore.

"During the quarter, the Group has acquired control of one of its joint ventures and divested a 2.5 per cent equity stake in Vivrut Developers Private Limited ('VDPL'), a joint venture, through Godrej Properties Limited, a subsidiary company, resulting in a gain of Rs 5.35 crore recognised under 'Other Income'," the company said in its exchange filing.

Additionally, the group had sold a 2.5 per cent equity stake held by it in Madhuvan Enterprises Private Limited (MEPL).

Meanwhile, the shares of Godrej Industries ended the session slightly up on Tuesday. The stock closed at Rs 1,065.0, up 0.41 per cent. This year till date, the scrip slipped over 8 per cent.

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