FMCG giant Godrej Consumer Products announced a consolidated revenue of INR 3,601 crore for the quarter ending on September 30, 2023, as compared to INR 3,391 crore during the same period last year.
As per the BSE filing, the company’s net profit surged by 20.59 percent to reach INR 433 crore for the September quarter. In comparison, a year prior, Godrej Consumer recorded a net profit of INR 359 crore.
In the second quarter, the FMCG giant experienced a 10 percent increase in volume, with its India business alone achieving an impressive 11 percent growth in volume.
In its investor presentation, Godrej Consumer emphasized significant margin expansion in critical markets. The company’s overall EBITDA margin for the quarter surged by 19.7 percent, with India taking the lead in margin growth, followed by Indonesia, Africa, the USA, the Middle East, Latin America, and SAARC.
Breaking it down by category, the India business generated INR 1,003 crore in sales in the personal care segment and INR 913 crore in the home care segment.
Within the home care category, the air freshener segment achieved double-digit growth, but the household insecticides category was adversely affected by unfavorable monsoon conditions.
Likewise, in the personal care sector, the personal wash segment demonstrated consistent performance with modest single-digit volume growth, while the growth in the hair color category was affected by an extra month of ‘Shravan’ during the quarter.
During the September quarter, the recently acquired Raymond Consumer Care brands, namely Park Avenue and KamaSutra, generated sales of INR 142 crore. The retailer mentioned that following the acquisition, most integrations have been finalized, and anticipates that cost synergies will begin to materialize from the second half of this fiscal year.
The investor presentation emphasized that GCPL is making progress toward achieving its full-year goals with the acquired brands and anticipates a positive EBITDA, even as it increases its investments in media.