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Godrej Consumer Products Q3 net profit falls 1.4 pc to Rs 423 crore

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(GCPL) Tuesday reported a 1.4 percent 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.

Godrej Consumer Products Q3 net profit falls 1.4 pc to Rs 423 crore
The firm's India business grew 5.6 percent to Rs 1,505.64 crore, against Rs 1,425 crore during the year-ago period

Its total income increased by around 3 percent 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 fiscal year 2019. Our India business delivered single-digit sales growth on a high base and continued to grow Ebitda ahead of sales,” , Executive Chairperson, GCPL said in a statement.

The firm’s India business grew 5.6 percent 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 percent to Rs 680.22 crore from Rs 629.62 crore on a year-on-year basis.