In the December quarter, Godrej Consumer Products witnessed a 6% year-on-year (YoY) increase in its consolidated net profit, reaching INR 581 crore, compared to INR 546 crore recorded in the same quarter of the previous year.
Revenue from operations in the third quarter rose by 2% year-on-year (YoY) to INR 3,660 crore, impacted by the devaluation of the Naira and the Argentine Peso. This is in comparison to INR 3,599 crore recorded in the same quarter last year.
In the quarter ending December 2023, there was a 16% year-on-year (YoY) increase in Consolidated EBITDA, reaching INR 841 crore, with a corresponding improvement in margins to 23%. The company also disclosed a consolidated volume growth of 8% YoY for the same period.
“We continue to remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. We continue to have a strong balance sheet. We are on track in our journey to reduce wasted cost and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development,” said Sudhir Sitapati, MD and CEO, Godrej Consumer.
Segment-wise, the home care volume growth remained stable at 5% during the reporting period. The non-mosquito portfolio demonstrated consistent strong performance, and notably, air fresheners recorded double-digit volume growth.
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The personal care volumes in the third quarter witnessed a 2% rise. Among these, personal wash achieved mid-single-digit volume growth. Strong double-digit volume growth was observed in Magic Handwash, while hair color volumes recorded a double-digit increase, led by both Godrej Expert Rich Creme and Godrej Selfie Shampoo Hair Colour.
In terms of geography, the business volume in India experienced a 12% growth, with a 9% year-on-year increase in sales during the December quarter. Concurrently, in Indonesia, volumes surged by 9%, and sales showed growth of 8% in Indian Rupee terms and 7% in constant currency terms.
Sales in Africa, the USA, and the Middle East witnessed an 8% decline in Indian Rupee terms but showed a 14% growth in constant currency terms. On the other hand, Latin America and SAARC sales experienced a 45% decrease in INR terms, while demonstrating a remarkable 181% growth in constant currency terms.
On Wednesday, the shares of Godrej Consumer concluded 0.84% lower, settling at INR 1,162 on the NSE.
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