Godrej Consumer Products Ltd, on Wednesday, reported a 24.47 per cent growth in its consolidated net profit to ₹452.14 crore in the fourth quarter, led by volume growth.

It had posted a net profit of ₹363.24 crore in Q4FY22, said Godrej Consumer Products Ltd (GCPL) in a BSE filing.

The revenue from the sale of products of the Godrej group FMCG arm was up 9.6 per cent at ₹3,172.21 crore during the quarter under review as against ₹2,894.15 crore in the corresponding period last fiscal.

"4Q FY23 consolidated sales grew by 10 per cent in INR led by volume growth of 6 per cent," as per an earning statement from GCPL.

GCPL’s total expenses were at ₹2,680.39 crore, up 5.73 per cent in Q4 FY23 as against ₹2,535.06 crore in the corresponding quarter.

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Its total income in the March quarter was at ₹3,258.07 crore, up 10.83 per cent.

"The performance was broad-based with India Branded business delivering stellar volume growth of 13 per cent, led by double-digit volume growth in both home care and personal care," said GCPL Managing Director and CEO Sudhir Sitapati.

GCPL's India revenue was up 11.47 per cent to ₹1,822.92 crore in the fourth quarter of FY23 as against ₹1,635.34 crore in the corresponding quarter.

This was led by volume growth of 11 per cent, said GCPL. Its home care segment, which consists of household insecticides and air fresheners, grew by 14 per cent and 17 per cent by personal care having hair colour and personal wash categories.

International markets

Revenue from the Indonesian market was up 8.2 per cent to ₹434.54 crore as compared with ₹401.60 crore in the year-earlier period.

"Core business performance improves in Indonesia with sales growth of 5 per cent in constant currency terms. Sales, excluding Hygiene (Saniter), saw a growth of 11 per cent in constant currency terms," it said.

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GCPL’s revenue from Africa (including Strength of Nature) market was up 6.54 per cent at ₹770.09 crore as against ₹722.77 crore in the year-earlier period.

"Our Africa, USA, and Middle East cluster delivered high single-digit sales growth of 8% in constant currency terms. Performance was impacted by election and demonetisation in Nigeria; however, the business saw a recovery in March 2023," it said.

While revenue from other markets was down 3.76 per cent to ₹203.59 crore in Q4FY23 as against ₹211.55 crore.

In FY23, GCPL's net profit was down 4.53 per cent to ₹1,702.46 crore. It was at ₹1,783.39 crore in FY22.

Its consolidated revenue from operations in FY23 increased 8.41 per cent to ₹13,198.69 crore.

Shares of Godrej Consumer Products Ltd, on Wednesday, settled at ₹962.60 on BSE, up 1.17 per cent from the previous close.

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