Godrej Consumer's Q4 NP zooms 212%; announces Nisaba new executive chair

The Godrej Consumer Products Limited (GCPL) on Tuesday said its consolidated net profit for the fourth quarter (Q4 of 2016-17) ended March 31 shot up by 212.33 per cent to Rs 389.91 crore. Besides, the company said its Executive Director Nisaba Godrej has been appointed the new Executive Chairperson, effective May 10. "Chairman Adi Godrej will be the Chairman Emeritus. Vivek Gambhir will continue as the Managing Director and CEO," a company statement said. The company's net profit was Rs 124.84 crore during the corresponding period in the 2015-16 financial year. Its total income was up by 12.78 per cent at Rs 2,489.49 crore during the quarter under review from Rs 2,207.37 crore during the same period of FY 2015-16. For the 2016-17 financial year, the net profit was Rs 1,304.08 crore -- up by 57.57 per cent, while the total income from operations was up by 9.78 per cent to Rs 9,608.80 crore. On standalone basis, the company's Q4 net profit edged up by 20.80 per cent to Rs 253.09 crore, compared with Rs 209.51 crore during the quarter ended March 31, 2016. The net profit for the 2016-17 financial year stood at Rs 848.03 -- up 17.35 per cent, while the total income from operations inched up by 4.20 per cent to Rs 5,088.99 crore. "The foundations of GCPL are extremely strong. This is an opportune time to transition to a new Chairperson, who will lead the company in its next phase of growth. I feel very confident that Nisaba will be an outstanding Executive Chairperson," Adi Godrej said. "I will continue to serve the GCPL Board and contribute in whatever way I can to GCPL's success and long-term growth."