Shares of private merchandise maker – Godrej Consumer Products – rose as a lot as 25 per cent to hit an all-time excessive of Rs 894 after it reported March quarter earnings. Godrej Consumer Products internet revenue in January-March quarter superior 59 per cent to Rs 366 crore in contrast with Rs 230 crore in the identical quarter final 12 months. Its income from sale of merchandise rose 27 per cent to 2,706 crore versus Rs 2,133 crore in the identical interval final 12 months.
Godrej Consumer Products’ revenue jumped on account of double digit development in family pesticides, hygiene and worth for cash merchandise.
“India business sales grew by 35 per cent year-on-year. Africa, USA and Middle East sales grew by 30 per cent in rupee terms and 36 per cent in constant currency terms year-on-year,” GCPL stated in a press launch.
Commenting on the enterprise efficiency of 4Q FY 2021, Nisaba Godrej, Chairperson and Managing Director, GCPL, stated: “We delivered a third consecutive quarter of double-digit sales growth. Consolidated sales grew by 27% and EBITDA grew by 21%. From a category perspective, we saw continued strong growth momentum in the Household Insecticides and Hygiene categories. Hygiene grew by 38%, Household Insecticides grew by 28% and Value For Money products grew by 27%.
“We stay assured of leveraging development alternatives to drive sustainable, worthwhile gross sales development throughout our portfolio in FY 2022. We will proceed to fastidiously navigate the challenges of the second wave of COVID-19 in India by guaranteeing seamless provide chain deliveries, and carefully monitoring shifts in shopper behaviour to answer,” Ms Godrej added.
In a separate improvement, Godrej Consumer Products has appointed Sudhir Sitapati as its managing director and chief government officer (CEO) of the corporate for a interval of 5 years with impact from October 18, 20121.
As of 1:50 pm, Godrej Consumer Products shares traded 21 per cent larger at Rs 866, outperforming the Nifty which was down 0.74 per cent.
