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Godrej Consumer Products Q3 Net Drops 4% To Rs 352 Crore After Note Ban

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Godrej Consumer Products Q3 Net Drops 4% To Rs 352 Crore After Note Ban

New Delhi: FMCG firm Godrej Consumer Products Ltd (GCPL) today logged a 4.34 per cent decline in consolidated net profit at Rs 351.78 crore for the December 2016 quarter partly due to the impact of demonetisation. 

Its net profit for October-December last year stood at Rs 367.75 crore. 

GCPL's total income was up 8.75 per cent during the period under review at Rs 2,485.77 crore as against Rs 2,285.74 crore a year earlier, it said in a BSE filing. 

Godrej Group Chairman Adi Godrej said: "In India, while demonetisation has resulted in some near-term disruptions, we have outperformed the overall market with secondary sales growth of 2 per cent during the quarter... Through our focus on operating efficiencies and judicious cost management, our Ebitda, too, has increased by 15 per cent." 

He further said: "Going forward, remonetisation should result in growth normalising in India over the next few months. In financial year 2018, implementation of GST will provide strong momentum for a much better economic environment and stronger consumer demand." 

During the quarter, GCPL's India business primary sales came in flat due to demonetisation. 

Meanwhile, in a separate filing, GCPL said its board in a meeting today declared a third interim dividend of Rs 1 per share for 2016-17. 

GCPL stock was trading at Rs 1,570.25 on BSE, up 1.27 per cent, from the previous close.



(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)


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