Godrej Consumer Products Ltd (GCPL) reported an 8 percent decline in net profit to Rs 319 crore ($38.6 million), as against Rs 345 crore reported in the year-ago period.
The company’s revenue for the quarter rose by 10 percent to Rs 3,449 crore, as against Rs 3,125 crore in the corresponding quarter of the previous fiscal year.
Commenting on the results, Sudhir Sitapati, managing director CEO at GCPL in a statement said, “We started the year on a positive note and achieved healthy volume-led sales growth. In organic terms, our consolidated sales increased by 9 percent year-on-year driven by healthy volume growth of 8 percent. This performance was broad based with home care delivering double-digit volume growth and personal care in mid-single digits.”
“We remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. 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,” he added.
GCPL owned by the Godrej Group is one of India’s leading players in the personal care and cosmetics market.
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