Net profit rises 6% YoY to Rs 581 crore, ET Retail

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Godrej Consumer’s consolidated net profit rose 6% year-on-year (YoY) to Rs 581 crore in the December quarter compared with Rs 546 crore in the corresponding quarter of last year.

Revenue from operations during the third quarter increased 2% YoY to Rs 3,660 crore, impacted by the devaluation of the Naira and the Argentine Peso. The same stood at Rs 3,599 crore in the same quarter last year.

Consolidated EBITDA for the quarter increased 16% YoY to Rs 841 crore and margins improved to 23%. The company has reported consolidated volume growth of 8% YoY in the quarter ended December 2023.

“We continue to remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. We continue to have a strong balance sheet. We are on track in our journey to reduce wasted cost and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development,” said Sudhir Sitapati, MD and CEO, Godrej Consumer.

Segment-wise, home care volume growth was stable at 5% in the reporting period. The non-mosquito portfolio continues to consistently perform well. Air fresheners delivered double-digit volume growth.

The personal care volumes during the third quarter rose 2%. Within this, personal wash delivered mid-single-digit volume growth. Magic Handwash saw strong double-digit volume growth and hair colour volumes rose double-digit led by both Godrej Expert Rich Creme and Godrej Selfie Shampoo Hair Colour.

Geography-wise, the India business volume grew by 12% and sales rose 9% YoY in the December quarter. Meanwhile, Indonesia volumes jumped 9% and sales increased 8% in INR terms and 7% in constant currency terms.

Africa, USA, and Middle East sales declined by 8% in INR terms and grew by 14% in constant currency terms. Latin America and SAARC sales declined by 45% in INR terms and grew by 181% in constant currency terms.

On Wednesday, Godrej Consumer shares closed 0.84% lower at Rs 1,162 on the NSE.

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