Godrej Consumer shares rally over 22 pc after Q4 earnings

Shares of Godrej Consumer Products on Wednesday closed with over 22 per cent gains after the company reported a 59.13 per cent 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 24.99 per cent to Rs 894.90 -- its 52-week high -- on the BSE during the day.

Shares of Godrej Consumer Products on Wednesday closed with over 22 per cent gains after the company reported a 59.13 per cent 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 24.99 per cent to Rs 894.90 -- its 52-week high -- on the BSE during the day. It closed at Rs 874.80, a gain of 22.19 per cent.

On the NSE, it jumped 21.48 per cent to close at Rs 870.05.

In traded volume terms, 12.90 lakh shares were traded at the BSE and over 2.73 crore units at the NSE during the day.

FMCG major Godrej Consumer Products Ltd (GCPL) on Tuesday reported a 59.13 per cent 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 Chief Executive Officer, 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 per cent.'' GCPL's total expenses were at Rs 2,259.12 crore, up 26.07 per cent in the March 2021 quarter as against Rs 1,791.93 crore a year ago.

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