Godrej Consumer Products' Q1 Results: Net profit fell by 8% to Rs 319 crore

For the first quarter that ended June 30, 2023, domestic FMCG Company Godrej Consumer Products Ltd (GCPL) recorded a 7.6% YoY decline in net profit at Rs 318.8 crore.

Godrej Consumer Products had a net profit of Rs 345.1 crore for the comparable period last year, the company said in a regulatory filing.

In comparison to the similar period of the previous year, when the total revenue stood at Rs 3,124 crore, it climbed by 10.4% during the period under review, reaching Rs 3,448.9 crore.

In the first quarter of this fiscal year, EBITDA increased 23.4% to Rs 642.8 crore from Rs 520.8 crore in the equivalent period of the previous fiscal.

EBITDA margin was 18.6% in the reporting quarter as compared to 16.7% in the same period of the prior fiscal year. 

Consolidated sales for the first quarter of FY24 increased by 10% in the rupee, driven by volume growth of 10% and constant currency growth of 15% YoY, the company said.

Sales for the company's India business increased by 9% YoY, driven by a volume gain of 12%. Additionally, Indonesia's sales increased YoY by 15% in constant currency terms and 20% in rupees.

Sales in Africa, the United States, and the Middle East increased by 16% in constant currency terms and 9% in rupee terms YoY. According to Godrej Consumer Products, the sales in Latin America and SAARC increased 79% over the previous year in constant currency terms and 18% in rupee terms.

The results were announced after the market had closed.

Source: Media Reports