Godrej Consumer Products reports over 1 pct drop in net profit during Q3
Godrej Consumer Products (GCPL) Tuesday reported a 1.4 per cent dip in consolidated net profit to Rs 423.52 crore in the third quarter ended December 2018. The company had recorded a profit of Rs 429.87 crore in the same quarter a year ago.
Its total income increased by around 3 per cent to Rs 2,744.57 crore during the quarter, compared with Rs 2,666.23 crore in the corresponding quarter of 2017-18. "We delivered a mixed performance in the third quarter of the fiscal year 2019. Our India business delivered single-digit sales growth on a high base and continued to grow Ebitda ahead of sales," GCPL Executive Chairperson Nisaba Godrej said in a statement.
The firm's India business grew 5.6 per cent to Rs 1,505.64 crore, against Rs 1,425 crore during the year-ago period. "In our international business, Indonesia continued its growth momentum with improvement in the household insecticides business. Africa showed signs of a gradual recovery with profitability improving sequentially. Latin America, however, recorded relatively weaker performance due to adverse macroeconomic conditions," Godrej said. Africa business, the second-largest contributor to the total sales, of GCPL grew 13.6 per cent to Rs 680.22 crore from Rs 629.62 crore on a year-on-year basis.
(With inputs from agencies.)
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