FMCG company Godrej Consumer Products Limited (GCPL) on Thursday reported a net profit of Rs 407.6 crore, up by 0.63 per cent from the net profit of Rs 405.04 crore it had posted in the year-ago period.
The company’s total income during the quarter dipped by 5.49 per cent to Rs 2370.14 crore, from the year-ago period’s Rs 2508.08 crore.
“We delivered a relatively mixed performance in the first quarter of fiscal year 2020. Our India business delivered a steady volume growth of 5%, amidst a general slowdown in staples consumption. We expect a gradual recovery in the coming quarters for the industry and also for our business.
In fiscal year 2020, for GCPL, we expect better volume growth in India, supported by our continued focus on innovations and enhancements to our go-to-market model. We will continue driving profitable sales growth in Indonesia, while focusing on profitability in Africa, and ensuring a meaningful turnaround in our Latin American business,” said Nisaba Godrej, Executive Chairperson, GCPL.
The company’s India business grew 1 per cent year-on-year and 5 per cent year-on-year in volume terms, the company said in a release.