GCPL Q1 net at Rs 244.27 crore

GCPL Q1 net at Rs 244.27 crore
Posted by
Story Dated : July 29, 2016

New Delhi: FMCG major Godrej Consumer Products (GCPL) today reported a consolidated net profit of Rs 244.27 crore for the first quarter ended June 30, 2016.

The company had reported a net profit of Rs 116.72 crore in April-June period a year ago, GCPL said in a BSE filing.

The results are not comparable in view of acquisitions and changes in the company’s shareholding in some of the subsidiaries, said GCPL, which acquired US-based Strength of Nature LLC, in April this year.

GCPL’s consolidated net sales during the quarter under review was Rs 2,120.22 crore. It was Rs 1,985.43 crore in the corresponding quarter.

“We delivered this performance despite the sluggish business environment across many geographies that we are present in. Additionally, sales was also impacted by the unfavourable weather conditions in some of our key geographies. We delivered healthy profits driven by judicious cost control and commodity tailwinds,” Godrej Group Chairman Adi Godrej said.

GCPL’s revenue from India market was Rs 1,063.97 crore. It was Rs 1,063.39 crore in the April-June quarter of the previous fiscal.

“Our India business performance was impacted by a stretched summer and late onset of monsoon, which resulted in a weak performance in Household Insecticides,” said Godrej.

GCPL’s revenue form its Indonesian business was Rs 376.20 crore. It was Rs 349.90 crore in the corresponding quarter.

Revenue from Africa was Rs 442.98 crore and other regions was at Rs 266.36 crore. It was Rs 303.35 crore and Rs 296.87 crore respectively in the corresponding quarter.

Over the outlook, he said: “We should also see a boost to consumption in India, following the implementation of the Seventh Pay Commission and the passing of the GST Bill. We are relentlessly focusing on our strategy and investing strategically in creating new growth vectors for the future”.

Meanwhile, in a separate filing GCPL informed BSE that its board today “declared a first interim dividend Re 1 per share (100% on the shares of the face value of Re 1 each) for the financial year 2016-17”.