The Hindu Business Line : Godrej Consumer Q1 standalone net dips 4%

Mumbai, July 25 High input costs and unusual advertisement and promotion spends pulled down Godrej Consumer Products Ltd (GCPL’s) net profit by 4 per cent to Rs 34.3 crore in the first quarter of the current fiscal against Rs 35.8 crore in same period last year. Sales revenues increased by 18 per cent from Rs 235.9 crore to Rs 277.7 crore during the same quarter. Mr Hoshi Press, Executive Director & President, GCPL, told Business Line, “We have decided to take a 5-6 per cent price hike in our soaps brands and also bring down our extraordinary advertising spends to combat the dip in profits.”

Besides, the FMCG company is also planning to increase prices of its hair colouring brands by 10 per cent in the future. Its new brand of powdered hair dye — Godrej Expert, is expected to undergo the highest price increase in the future. “There has been an additional Rs 16 crore advertising and promotion spends this quarter as we had Hritik Roshan as the new brand ambassador for our Cinthol brand,” added Mr Press.

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