Key Points
BENGALURU, Aug 1 (Reuters) - India's Godrej Agrovet Ltd (GODE.NS)reported a 27.3% rise in first-quarter profit on Tuesday, aided by lower costs and growth in its animal feed and crop protection businesses...
The easing in retail food inflation in the quarter and demand recovery in the agriculture sector aided profitability as raw material costs cooled off...
Profit before interest and tax at the company's animal feed business more than doubled in the quarter, while profit at its crop protection business grew 78.5%...
While the animal feed business accounts for about half of total revenue, the crop protection business is a bigger profit contributor, at roughly 41%...
Its smallest business by either measure is vegetable oils, where profit slumped 67% in the quarter as a correction in selling prices more than offset higher sales volumes, the Godrej Group-owned firm said in a statement...
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