Godrej Consumer net profit surges 60 percent to Rs 578 crore

By

Maverick Martins

Published
Nov 5, 2018

Godrej Consumer Products (GCPL) net profit zoomed 60 percent to Rs 578 crore (approx $79.3 million) in the second quarter ended September from Rs 362 crore it had posted in the corresponding period last fiscal.

The company’s revenue also increased to Rs 2,685 crore in the quarter under review, compared with Rs 2,526 crore in the year-ago period on the back on double-digit growth in the domestic market.
 
The company's India revenue stood at Rs 1,508 crore, from Rs 1,364 crore last year. Godrej’s soaps and hair colors business grew 11 percent and 21 percent, respectively, during the quarter.

"We had a mixed performance in the second quarter of the fiscal year 2019. Our India business delivered double-digit sales growth and strong profit growth while stepping up our investments in marketing," GCPL executive chairperson Nisaba Godrej said in a statement.
 
"In our international business, Indonesia continued its strong recovery, while Africa and Latin America recorded relatively weaker performances due to adverse macroeconomic conditions," she added.
 
Commenting on the outlook, Godrej said, "Overall, we remain relentlessly focused on becoming more agile, increasing the pace of innovations, enhancing our go-to-market approach and investing in our key talent, to continue to outperform the market and deliver industry-leading returns.”
 
During the quarter, Godrej also rolled out an entire range of male grooming products under its Cinthol brand and expects this segment to contribute significantly to the revenues in the coming quarters.
 
Godrej Consumer Products Ltd is owned by the billion-dollar firm Godrej Group. It offers several personal care and cosmetic brands.