16.56 Per Cent Net Profit Decline In Q1 For GCPL

The consolidated net profit of Godrej Consumer Products Ltd (GCPL) recorded a decline of 16.56 per cent at Rs 345.12 crore for the first quarter.

The consolidated net profit of Godrej Consumer Products Ltd (GCPL) recorded a decline of 16.56 per cent at Rs 345.12 crore for the first quarter. The commodity inflation and the investments in upfront marketing are the reasons attributed to this. In the previous year, a net profit of Rs. 413.66 crore was posted, for the same quarter.

The FMCG category under Godrej saw a rise up to 8.08 per cent in the revenue from sale of products at Rs. 3,094.31 crore during this quarter under review. In the same period, last fiscal year, this was recorded at Rs 2,862.83 crore. The total expenses were recorded at Rs. 2,696.29 crore in the first quarter, this fiscal, which is 13.64 per cent as compared to Rs. 2,372.65 crore in the same period, last year.

GCPL’s revenue in India was up by 11.36 per cent at Rs 1,849.41 crore in the first quarter, as compared to Rs 1,660.65 crore in the same quarter, previous year. Meanwhile, in the same quarter, the firm’s domestic volume saw a decline of 6 per cent. The Indonesian market revenue saw a decline by 8.49 per cent to Rs 376.51 crore. The same was recorded at Rs. 411.47 crore in the previous year. The revenue from the African market saw an increase by 12.19 per cent at Rs 778.87 crore, which was recorded at Rs 694.23 crore in the previous year.

GCPL’s officials expect a steady recovery in consumption as well as gross margins, amidst the pressures of inflation. The Godrej Consumer Products Ltd shares were trading at Rs 856.50 on BSE, on Wednesday afternoon.