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Godrej Consumer Products (GCPL) on Tuesday reported a 1.4 per cent 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 per cent 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,” GCPL Executive Chairperson Nisaba Godrej said in a statement. The firm’s India business grew 5.6 per cent 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 per cent to Rs 680.22 crore from Rs 629.62 crore on a year-on-year basis.
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