Published
Jan 6, 2020
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Godrej Consumer Products expects sales growth in coming quarters

Published
Jan 6, 2020

Godrej Consumer Products Ltd (GCPL) is expecting a marginal growth during the quarter ended December 31, 2019, due to the general consumption slowdown in the country.
 

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The company, however, expects the growth to pick up in the coming quarters. For the third quarter, Godrej said that it expects a marginally higher than mid-single-digit volume growth.
 
GCPL had reported a 28 percent decline in its profit at Rs 414 crore ($58.4 million) for the second quarter, and its sales revenue also dipped by 1 percent to Rs 2,608 crore, due to the ongoing economic slowdown in the country.

“The uplift in volume growth was led by a gradual recovery, new product launches, effective marketing campaigns, and tactical consumer offers. The sales value growth also mirrors the trend of the past few quarters' sales value growth. We look forward to a gradual improvement in consumer demand in the quarters ahead driven by a good monsoon and government stimuli,” GCPL said, in a BSE filing.
 
The quarter also witnessed relatively mixed demand across some of its geographies of operations. In GAUM (Godrej Africa, U.S, Middle East), the company said it saw a good recovery with higher than mid-single digit constant currency sales growth while performance in SAARC countries was robust, the company added.
 
Godrej Consumer Products Ltd is owned by the billion-dollar firm Godrej Group and has a strong presence in the personal care and cosmetics market.

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