Results: Godrej Consumer Q3 profit up 13% at Rs 502 crore
Results: Godrej Consumer Q3 profit up 13% at Rs 502 crore

FMCG major Godrej Consumer Products Ltd (GCPL) on Monday reported 12.77 per cent increase in consolidated net profit at Rs 502.08 crore for December quarter 2020-21 helped by sales growth in domestic market.

The company had posted a net profit of Rs 445.20 crore in October-December period a year ago, GCPL said in a BSE filing.

Total revenue from operations was at Rs 3,055.42 crore, up 9.98 per cent as against Rs 2,778.05 crore in the year-ago period.

Total expenses were at Rs 2,435.11 crore, up 8.50 per cent from Rs 2,244.16 crore in third quarter of 2019-20.

"We delivered a second consecutive quarter of double-digit, profitable sales growth," GCPL Chairperson and Managing Director Nisaba Godrej said.

"From a category sales perspective, Household Insecticides, Hygiene and Value For Money (which contributes to 81 per cent of our global portfolio) grew by 14 per cent. Household Insecticides grew by 5 per cent, Hygiene grew by 19 per cent and Value For Money grew by 22 per cent," she added.

GCPL's India revenue was up 11.21 per cent to Rs 1,694.75 crore in the period under review as against Rs 1,523.87 crore in the year-ago period.

Revenue from the Indonesian market was at Rs 447.28 crore, marginally down from Rs 448.22 crore in the year-ago period.

"Our Indonesian business delivered a soft performance; 0 per cent sales growth in INR and 2 per cent decline in constant currency terms," Godrej added.

GCPL's revenue from Africa (including Strength of Nature) market was up 14.75 per cent at Rs 778.83 crore as against Rs 678.70 crore a year ago.

"Our Africa, USA and Middle East business continued its robust growth trajectory, growing at 15 per cent in INR (Indian rupee) and 17 per cent in constant currency terms," she said.

Revenue from other markets was also up 11.73 per cent to Rs 180.02 crore as against Rs 161.12 crore.

Over the outlook, Godrej said the company will continue to focus its efforts where the demand is - in Household Insecticides, Hygiene, and Value for Money besides strengthening supply chain operations and distribution capabilities.

"We are investing behind consumer-centric innovations and focusing on serving consumers at all price points. Across channels too, we are making a shift, doubling down on digitisation and channels like e-commerce and chemists," she added. Shares of GCPL were trading at Rs 736.30 apiece on BSE during afternoon trade, down 1.74 per cent from the previous close.

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