Fast-Moving Consumer Goods (FMCG) major Godrej Consumer’s consolidated net profit grew by 6.4 per cent to ₹581 crore in the quarter that ended on December 31, 2023, compared to ₹546 crore reported during the same quarter last year.
The Mumbai-based company’s profit for the quarter grew by 34.4 per cent to ₹432 crore for the September quarter.
Revenue from operations for the company grew by 1.69 per cent to ₹3,659 crore, compared to ₹3,598 crore reported during the December quarter last year. A 1.61 per cent increase was reported compared to ₹3,601 crore reported in the quarter ending in September.
The Q3 sales grew by 9 per cent to ₹2,160 crore, with a volume growth of 12 per cent for the company.
“Our consolidated volumes grew by 8 per cent, led by the India business growing volumes at 12 per cent and Indonesia growing volumes at 9 per cent. Our consolidated revenue growth was significantly impacted by the devaluation of the Naira and the Argentine Peso with sales growing at 2 per cent in INR terms and 19 per cent in constant currency terms. Our quality of profit continues to improve consistently on the back of superior growth in higher-margin countries and categories. Our reported consolidated gross margin improved sharply by 470 bps year-on-year and 100 bps quarter-on-quarter. Our EBITDA margin, too, improved by 280 bps year-on-year despite continued media investments, which increased by 32 per cent year-on-year. We continue to remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. We have launched two new products in the Indian market. (1) Godrej Fab Liquid Detergent, at a category-defining price of ₹99 per litre. (2) We have entered the ~ ₹1,200 crore market of the Anti-Mosquito Incense Sticks segment that is dominated by illegal players. Goodknight Agarbatti is India’s only government registered active based anti-mosquito Agarbatti with our new and exclusive molecule RNF (-2x more effective than other molecules used in India),” said Sudhir Sitapati, Managing Director and CEO, GCPL.
The company stated that the home care segment grew by 5 per cent while the personal care segment grew by 2 per cent during the quarter. Furthermore, the company completed the integration of Park Avenue and KamaSutra, achieving a healthy sales run-rate in Q2 and clocking sales of ₹139 crore