Godrej Consumer Products shares extend losses, fall 4% on poor Q1 results
New Delhi: Shares of FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday extended losses by falling by 4% after the company reported 8.70% decline in consolidated net profit for the quarter to June.
The Godrej Consumer scrip fell by 4.07% to close at Rs925 on BSE. At NSE, shares of the company closed lower by 4% to Rs916.
GCPL had reported 8.70% decline in consolidated net profit early this week at Rs225.17 crore for the quarter to June due to tepid sales post-GST and higher expenses.
The company had posted a net profit of Rs246.65 crore in April-June a year ago. Net sales during the period under review were up 3.42% at Rs2,266.69 crore, as against Rs 2,191.64 crore of the corresponding quarter of the previous fiscal, the company said in a BSE filing.
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