Shares of Godrej Consumer Products reversed course to fall as much as 4 per cent to Rs 628.4, its lowest since November 2017.
The personal and household care products maker reported a 2.7 per cent dip in Q4 sales, as income from its domestic business fell due to a general slowdown in staples consumption and also a delayed summer, it said.
Sales volume growth was 1 per cent in the quarter. However, Q4 net profit climbed 51.5 per cent to Rs 935 crore ($135.03 million), helped by a deferred tax gain of Rs 533 crore.
More than 2.7 million shares changed hands, versus the 30-day average of 1.5 million shares.
The stock was down 19.3 per cent this year as of last close ($1 = 69.2425 Indian rupees). It closed Friday's session at Rs 641, down Rs 12.95 or 1.98 per cent.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.