This Article is From Jan 27, 2016

Godrej Consumer Products Q3 Profit Up 23% at Rs 323 Crore

Godrej Consumer Products Q3 Profit Up 23% at Rs 323 Crore
New Delhi: FMCG firm Godrej Consumer Products Ltd (GCPL) on Wednesday reported a 23 per cent increase in consolidated net profit at Rs 323 crore for the fiscal third quarter that ended in December, helped by lower costs.

The company had registered a net profit of Rs 263.6 crore for the corresponding period a year ago.

Its consolidated net sales rose 5.7 per cent to Rs 2,353.5 crore as against Rs 2,225.8 crore a year earlier, it said in a filing to the BSE.

During the quarter, GCPL's India business branded net sales rose 8 per cent to Rs 1,261 crore whereas its international business grew 9 per cent on an organic constant currency basis.

"In a challenging operating environment, we have delivered a resilient and competitive performance in third quarter of the current fiscal... Operating earnings growth was ahead of sales growth across most of our geographies, aided by lower commodity costs, calibrated price hikes, stringent cost management and effective leveraging of brand platforms," Godrej Group chairman Adi Godrej said.

"Over the next few quarters, we will be introducing several exciting new launches to stimulate demand and extend leadership in our core categories. We are also enhancing our go-to-market infrastructure and investing strategically for future," he added.

In a separate filing, GCPL also announced a third interim dividend of Rs 1 per share for 2015-16.

Shares in Godrej Consumer Products, on Wednesday, ended 0.02 per cent lower at Rs 1,150 apiece on the BSE, whose benchmark Sensex index also finished nearly flat.