Godrej Consumer Q1 PAT drops 7.5% to Rs 319 crore; Board approves Rs 900 cr capex

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mumbai: Godrej Consumer Products (GCPL) posted a 7.5% decline in its consolidated profit after tax at Rs 319 crore for

the first quarter ended June 30, 2023, as compared to Rs 345 crore in the corresponding quarter last year.Sales rose 10%

to Rs 3,418 crore from Rs 3,094 crore, led by a volume growth of 10%.India business sales grew by 9% year-on-year led by

volume growth of 12%.Sudhir Sitapati, Managing Director and CEO, GCPL, said:We started the year on a positive

note and achieved healthy volume-led sales growth. In organic terms, our consolidated sales increased by 9% year-on-year

driven by healthy volume growth of 8%. Sales in constant currency terms increased by 13%. In India, we continued to stay

course on our strategy of volume-driven category development and delivered double-digit volume growth of 10%. This

performance was broad based with Home Care delivering double-digit volume growth and Personal Care in mid-single digits.

Our value growth was lower than volume growth as we passed on the benefits of lower input costs to our

consumers.

Sitapati said the company remains focused on driving volume-led growth along with healthy investments

in its brands and improvement in profitability.In a notice to the stock exchanges, GCPL said the company’s Board

of Directors have approved a capital expenditure of Rs 900 crore for setting up a new manufacturing site at Tamil Nadu

and Madya Pradesh.

Aug 7, 2023

Source : Times Of India

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