Shares of personal products maker – Godrej Consumer Products – rose as much as 25 per cent to hit an all-time high of Rs 894 after it reported March quarter earnings. Godrej Consumer Products net profit in January-March quarter advanced 59 per cent to Rs 366 crore compared with Rs 230 crore in the same quarter last year. Its revenue from sale of products rose 27 per cent to 2,706 crore versus Rs 2,133 crore in the same period last year.
Godrej Consumer Products’ profit jumped on account of double digit growth in household insecticides, hygiene and value for money products.
“India business sales grew by 35 per cent year-on-year. Africa, USA and Middle East sales grew by 30 per cent in rupee terms and 36 per cent in constant currency terms year-on-year,” GCPL said in a press release.
Commenting on the business performance of 4Q FY 2021, Nisaba Godrej, Chairperson and Managing Director, GCPL, said: “We delivered a third consecutive quarter of double-digit sales growth. Consolidated sales grew by 27% and EBITDA grew by 21%. From a category perspective, we saw continued strong growth momentum in the Household Insecticides and Hygiene categories. Hygiene grew by 38%, Household Insecticides grew by 28% and Value For Money products grew by 27%.
“We remain confident of leveraging growth opportunities to drive sustainable, profitable sales growth across our portfolio in FY 2022. We will continue to carefully navigate the challenges of the second wave of COVID-19 in India by ensuring seamless supply chain deliveries, and closely tracking shifts in consumer behaviour to respond to,” Ms Godrej added.
In a separate development, Godrej Consumer Products has appointed Sudhir Sitapati as its managing director and chief executive officer (CEO) of the company for a period of five years with effect from October 18, 20121.
As of 1:50 pm, Godrej Consumer Products shares traded 21 per cent higher at Rs 866, outperforming the Nifty which was down 0.74 per cent.
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