Shares of Godrej Consumer Products on Wednesday zoomed nearly 25 percent after the company reported a 59.13 percent increase in its consolidated net profit for the fourth quarter ended March 2021.
The stock after starting the trade on a bullish note further rallied 24.86 percent to Rs 894 -- its 52-week high -- on BSE.
On NSE, it jumped 24.54 percent to its 52-week high of Rs 892.
FMCG major Godrej Consumer Products Ltd (GCPL) on Tuesday reported a 59.13 percent increase in its consolidated net profit to Rs 365.84 crore for the fourth quarter ended March 2021.
The company, whose board on Tuesday appointed HUL former executive director Sudhir Sitapati as the managing director and CEO, had posted a net profit of Rs 229.90 crore in the January-March quarter a year ago, GCPL said in a BSE filing.
Its net sales during the January-March 2021 were up by 26.87 per cent to Rs 2,705.69 crore, against Rs 2,132.69 crore in the year-ago period.
GCPL Chairperson and Managing Director Nisaba Godrej said, "We delivered a third consecutive quarter of double-digit sales growth. Consolidated sales grew 27 per cent and Ebitda (earnings before interest, tax, depreciation and amortisation) grew by 21 percent."
GCPL's total expenses were at Rs 2,259.12 crore, up 26.07 percent in the March 2021 quarter as against Rs 1,791.93 crore a year ago.