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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.
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