Godrej Consumer Products Ltd on Wednesday reported a consolidated profit after tax at ₹581 crore in the third quarter ended December 31, 2023. The company had posted a consolidated profit after tax of ₹546 crore in the same period last fiscal, Godrej Consumer Products Ltd (GCPL) said in a regulatory filing.
Consolidated total revenue from operations during the quarter under review stood at ₹3,659.6 crore as against ₹3,599 crore in the year-ago period, it added.
EBITDA for the quarter stood at ₹840.7 crore, up 15.7% from ₹726.6 crore in the same quarter a year ago. Margin stood at 23% as against 20.2% in Q3FY23.
Consolidated volume grew at 8%, sales grew by 2% in rupee terms impacted by devaluation, constant currency growth of 19% year-on-year. India business volume grew by 12%, sales grew by 9% year-on-year.
"We continue to deliver steady performance in Q3FY24 despite challenging market conditions. Our consolidated volumes grew by 8%, led by the India business growing volumes at 12% and Indonesia growing volumes at 9%. Our consolidated revenue growth was significantly impacted by the devaluation of the Naira and the Argentine Peso with sales growing at 2% in rupee terms and 19% in constant currency terms," said Sudhir Sitapati, Managing Director, and CEO at GCPL.
"Our quality of profit continues to improve consistently on the back of superior growth in higher margin countries and categories," Sitapati said.
"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," Sitapati added.
On Wednesday, shares of GCPL settled 0.84% lower at ₹1,162 apiece on the NSE.
First Published: Jan 31, 2024 5:43 PM IST
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