Godrej Consumer Products (GCPL) reported it's numbers for the July - September quarter on Wednesday, November 1. The company reported a profit of ₹432.8 crore for the quarter under review. A CNBC-TV18 poll had predicted a profit of ₹463 crore.
The FMCG major's revenue rose 6% for the quarter under review, while margin jumped 360 basis points to 19.6%. One basis point is one-hundredth of percentage point.
Along with its financial results, the Godrej Group company also announced an interim dividend of ₹5 per share for the financial year 2023-24.
GCPL's earnings before interest, tax, depreciation and amortisation (EBIDTA) came at ₹704 crore for the period under review, up 29.9% from the year-ago period.
According to the press release by the FMCG major, the company's consolidated sales grew by 6% in rupee terms. A volume growth of 10% and constant currency growth of 16% year-on-year drove the sales. India business sales grew 9% year-on-year, while Indonesia sales rose 16% in rupee terms. On the other hand, Africa, USA and Middle East sales declined by 5% in the rupee terms.
GCPL's Managing Director and CEO Sudhir Sitapati said, "We delivered a steady performance in 2Q FY2024, despite the tough operating environment. We continue to have a strong balance sheet. We are on track in our journey to reduce wasted cost and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development. We remain committed to our purpose of bringing the goodness of health and beauty to consumers in emerging markets."
First Published: Nov 1, 2023 4:52 PM IST
