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

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Godrej Consumer Products (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.

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,” Nisaba Godrej, 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.

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