Fri Oct 25 05:43:58 UTC 2024: Godrej Consumer Products Ltd (GCPL), a Fast-Moving Consumer Goods (FMCG) company, reported a 13.66% increase in consolidated net profit, reaching ₹491 crore for the quarter ending September 30, compared to ₹432 crore from the same quarter last year. The profit also showed a 9.1% increase from ₹450 crore in the preceding June quarter.
The total revenue from operations grew by 1.80% to ₹3,666 crore during the September quarter, up from ₹3,601 crore year-on-year, and increased by 10.05% from ₹3,331 crore in the previous quarter. The company announced an interim dividend of ₹5 per share, with a record date set for November 1, 2024, and payment by November 23, 2024.
GCPL’s consolidated volume grew by 5%, with a 2% increase in sales. In India, business volumes and sales rose by 7% year-on-year. The home care segment experienced a 12% growth, while personal care grew by 3%. CEO Sudhir Sitapati noted challenges from rising palm oil costs and inflation that impacted the EBITDA margin, but he remains optimistic about recovering margins through price adjustments.
Internationally, the company’s volume increased by 7% in Indonesia, with an 11% sales growth in constant currency. However, sales in the US, Africa, and West Asia remained flat in constant currency and declined in INR terms due to currency fluctuations.
Overall, GCPL demonstrated stable performance amid challenging market conditions, with encouraging growth in specific segments, including Air Care and Household Insecticides. The company aims to enhance its volume growth as it navigates pricing pressures from palm oil volatility.
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