Godrej Consumer Products Q1 net up 79.88% at Rs 405.04 crore
Godrej Consumer ‘s consolidated total revenue from operations during the quarter under review stood at Rs2,476.02 crore
New Delhi: Homegrown FMCG major Godrej Consumer Products Ltd (GCPL) on Monday reported 79.88% jump in consolidated net profit at Rs405.04 crore in the first quarter ended 30 June, 2018, driven by strong domestic market performance.
The company had posted a consolidated net profit of Rs225.17 crore in the corresponding period last fiscal, GCPL said in a BSE filing.
Consolidated total revenue from operations during the quarter under review stood at Rs2,476.02 crore. It was at Rs2,271.24 crore in the year-ago period.
The two figures are not comparable as sales for the June 2018 quarter is net of GST, whereas in the year-ago period it was is gross of excise duty.
The company said its board has declared an interim dividend for the year 2018-19 at the rate of Rs2per share.
It has also approved issue of bonus shares in the ratio of 1:2 i.e. one bonus equity share of Re1 each for every two fully paid-up equity share. GCPL executive chairperson Nisaba Godrej said, “We have had a good start to fiscal year 2019 with profitable, ahead of the market growth across most geographies and categories.”
During the quarter, GCPL said its India sales increased by 14% to Rs1,279 crore while the international business saw 9% growth in sales at Rs1,191 crore.
In India, GCPL said its household insecticides posted 17% increase in volume sales, the highest in the last seven quarters, while soaps saw 10% rise and hair colours 12% increase in sales volume.
“In our international business, we saw a recovery in Indonesia, while our performance in Africa was relatively soft,” she added.
On the outlook, Godrej said consumer demand is improving and the company expects this recovery to sustain going forward.
“In India, while we expect both urban and rural growth to improve, rural growth will outpace urban growth on the back of remonetisation, the settling down of the GST implementation and the government’s efforts to stimulate the rural economy,” she said.
Godrej said GCPL is accelerating the pace of innovation with differentiated and unique products and FY19 will be its most active in terms of new launches. “Alongside this, we continue to manage our costs prudently and make competitive brand investments for sustainable future growth,” she said.
Editor's Picks »
- ‘India loses $56 billion worth of productivity due to adolescent pregnancy, school drop-out’
- The plot to subvert an election: Unraveling the Russia story so far
- Breatkthrough Listen: There’s more out there
- ‘The cost of genetic testing for cancer has to come down’
- Samir Zaveri wants to make Mumbai trains safe again
- India’s renewable energy sector hits a milestone but loses speed
- All eyes now on share swap ratio in this mega bank merger
- Jet Privilege can actually get higher valuation than Jet Airways
- Profitability of cement firms to take a hit due to weak prices, high costs
- Pidilite’s shares hold their ground despite weak rupee and rising crude