New Delhi, Jul 30 (IANS): Godrej Industries Saturday said it has posted an increase of 45 percent in consolidated net profit at Rs.71 crore for the quarter ended June 30 as against Rs.49 crore during the like period of the previous financial year.

The total income during the quarter under review stood at Rs.1,333 crore as against Rs.1,011 crore during the corresponding quarter of 2010-11.

"Agri businesses have reported strong growth in revenues and profits owing to robust demand for products across business segments," said Godrej Industries Limited chairman A.B. Godrej.

"The oil palm business has outperformed during the quarter with maturing plantations yielding higher output. All business verticals in Godrej Agrovet, including oil palm, agri-inputs and animal feeds, are poised to deliver significant growth," he added.

At the Bombay Stock Exchange, the shares of the company were 3.62 percent lower to trade at Rs.211.75.