Business

Profit up 13% at ₹502 crore

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NEW DELHI :
FMCG major Godrej Consumer Products Ltd (GCPL) on Monday reported 12.77% increase in consolidated net profit at 502.08 crore for December quarter 2020-21 helped by sales growth in the domestic market.

The company had posted a net profit of 445.20 crore in October-December period a year ago, GCPL said in a BSE filing.

Total revenue from operations was at 3,055.42 crore, up 9.98% as against 2,778.05 crore in the year-ago period.

Total expenses were at 2,435.11 crore, up 8.50% from 2,244.16 crore in third quarter of 2019-20.

“We delivered a second consecutive quarter of double-digit, profitable sales growth,” GCPL Chairperson and Managing Director Nisaba Godrej said.

“From a category sales perspective, Household Insecticides, Hygiene and Value For Money (which contributes to 81% of our global portfolio) grew by 14%. Household Insecticides grew by 5%, Hygiene grew by 19% and Value For Money grew by 22%,” she added.

GCPL’s India revenue was up 11.21% to 1,694.75 crore in the period under review as against 1,523.87 crore in the year-ago period.

Revenue from the Indonesian market was at 447.28 crore, marginally down from 448.22 crore in the year-ago period.

“Our Indonesian business delivered a soft performance; 0% sales growth in INR and 2% decline in constant currency terms,” Godrej added.

GCPL’s revenue from Africa (including Strength of Nature) market was up 14.75% at 778.83 crore as against 678.70 crore a year ago.

“Our Africa, USA and Middle East business continued its robust growth trajectory, growing at 15% in INR (Indian rupee) and 17% in constant currency terms,” she said.

Revenue from other markets was also up 11.73% to 180.02 crore as against 161.12 crore.

Over the outlook, Godrej said the company will continue to focus its efforts where the demand is – in Household Insecticides, Hygiene, and Value for Money besides strengthening supply chain operations and distribution capabilities.

“We are investing behind consumer-centric innovations and focusing on serving consumers at all price points. Across channels too, we are making a shift, doubling down on digitisation and channels like e-commerce and chemists,” she added.

Shares of GCPL were trading at 736.30 apiece on BSE during afternoon trade, down 1.74% from the previous close.

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