Home Food GCPL Q3 net profit rises 22 pc to Rs 430 crore

GCPL Q3 net profit rises 22 pc to Rs 430 crore

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FMCG firm (GCPL) has reported a 22.05 per cent jump in consolidated net profit to Rs 429.87 crore for the third quarter ended December 31, 2017.

GCPL Q3 net profit rises 22 pc to Rs 430 crore
The company's net profit for the October-December quarter last year stood at Rs 352.20 crore

The company’s net profit for the October-December quarter last year stood at Rs 352.20 crore, GCPL said in a BSE filing.

Total income of the company during the period under review increased by 6.45 per cent to Rs 2,666.23 crore as compared to Rs 2,056.85 crore in the corresponding period last fiscal.

Commenting on the financial performance of 3Q FY2018, , Executive Chairperson, GCPL, said, “During the third quarter of fiscal year 2018, we have delivered competitive and profitable growth, while continuing to make healthy investments in our brands. Our consolidated comparable sales increased by 11 per cent while EBITDA growth was stronger at 18 per cent, in constant currency terms. Our Advertising & Publicity (A&P) spends increased by 18 per cent. We believe these investments will strengthen our brands and also set us up well to accelerate growth in the quarters ahead.

Our India business performance was resilient with 17 per cent comparable sales growth, driven by 18 per cent volume growth. We continued to grow EBITDA ahead of sales, with a growth of 32 per cent. The performance in our international portfolio was relatively muted due to a challenging environment. However, we expect the environment to improve in the quarters ahead.

Going forward, we expect stronger consumer demand in India. We also remain very positive about the future growth prospects of our international portfolio. As the market conditions improve, we will increase the pace of new product launches to build on the growth momentum. We will also continue to invest in building a sustainable platform for the future.

Overall, we are relentlessly focused on becoming more agile, increasing the pace of innovations, enhancing our go-to-market approach and investing in our key talent, to continue to outperform the market and deliver industry-leading returns.”