Published
Jan 31, 2023
Download
Download the article
Print
Text size

Godrej Consumer Products Q3 net profit rises 4 percent to Rs 546 crore

Published
Jan 31, 2023

Godrej Consumer Products Ltd (GCPL) witnessed a 4 percent rise in net profit at Rs 546 crore ($66.8 million) in the third quarter ended December 2022, as against Rs 528 crore reported in the year-ago period.


Godrej Consumer Products Q3 net profit rises 4 percent to Rs 546 crore - Godrej Magic


The company’s revenue for the quarter rose by 9 percent to Rs 3,599 crore, as against Rs 3,303 crore it posted in the corresponding period of the previous fiscal year.

Godrej’s expenses shot up to Rs 2,969 crore as compared to Rs 2,714 crore in the same quarter a year ago.

During the quarter, the India business sales grew by 11 percent with home care and personal growing 10 percent and 14 percent respectively.

Commenting on the results, Sudhir Sitapati, managing director CEO, of GCPL in a statement said, “We delivered an all-round performance in Q3 FY23. Overall sales grew by 9 percent, and we witnessed sharp sequential uplift in underlying volume growth.”

“With commodity pressures abating, we expect gradual recovery in consumption, expansion in gross margins, upfront marketing investments with a significant focus on reducing controllable costs and improvement in profitability in the coming quarters,” he added.

GCPL owned by the Godrej Group is one of India’s leading players in the personal care and cosmetics market.

Copyright © 2024 FashionNetwork.com All rights reserved.