GCPL posts 80 percent rise in Q1 profit at Rs 405 crore

By

Maverick Martins

Published
Jul 31, 2018

Indian FMCG firm Godrej Consumer Products Ltd reported an 80 percent jump in consolidated net profit at Rs 405 crore ($59.1 million) in the first quarter ended June 30, 2018. The company had posted a consolidated net profit of Rs 225 crore in the corresponding period last fiscal.

The revenue of the firm also increased to Rs 2,476 for the quarter under revenue from the Rs 2,271 it had posted during the same period last fiscal.
 
Strong domestic performance across all categories and geographies was the reason behind the steep increase in profit and revenue. GCPL’s domestic sales witnessed a 14 percent growth while international sales grew 9 percent during the quarter.

Commenting on the results, GCPL Executive Chairperson Nisaba Godrej in a statement said, "We have had a good start to fiscal year 2019 with profitable, ahead of the market growth across most geographies and categories."
 
"In our international business, we saw a recovery in Indonesia, while our performance in Africa was relatively soft," she added.
 
On the outlook, Nisaba said, "In India, while we expect both urban and rural growth to improve, rural growth will outpace urban growth on the back of remonetisation, the settling down of the GST implementation and the government's efforts to stimulate the rural economy”.
 
Godrej Consumer Products Ltd is owned by the billion-dollar firm Godrej Group and offers several personal care and cosmetic brands.