MUM­BAI:

The Pak Banker - - COMPANIES/BOSS -

House­hold and per­sonal care com­pany Go­drej Con­sumer Prod­ucts Ltd (GCPL) on Wed­nes­day re­ported a 23% rise in con­sol­i­dated net profit for the quar­ter ended 31 De­cem­ber on ac­count of lower com­mod­ity costs and strin­gent cost man­age­ment. The maker of Cinthol soaps and Hit in­sec­ti­cides beat an­a­lyst ex­pec­ta­tions with a net profit of Rs.323 crore as against Rs.264 crore for the year-ago pe­riod. Con­sol­i­dated to­tal in­come rose 6% to Rs.2,354 crore from Rs.2,226 crore a year ago. A Bloomberg poll of over 25 an­a­lysts had es­ti­mated net profit of Rs.322.80 crore and net sales of Rs.2,432.20 crore.

Net profit for In­dia busi­ness grew 18% and net sales 8%, led by 9% vol­ume growth. The growth came on ac­count of dou­ble-digit vol­ume growth in its house­hold in­sec­ti­cides seg­ment and mid-sin­gle digit vol­ume growth in soaps, the com­pany said in its earn­ings up­date state­ment while shar­ing that growth rates were ad­versely im­pacted by Chen­nai floods and late on­set of win­ter. Sales growth of the house­hold in­sec­ti­cides seg­ment was at 15%, soaps at 2% while the hair colour seg­ment shrunk by 1% in In­dia in the De­cem­ber quar­ter com­pared to the year-ago quar­ter. Dur­ing the quar­ter, the com­pany launched Aer Pocket in bath­room air fresh­en­ers and also con­tin­ued with its plan to pre­mi­u­mize its port­fo­lio by ex­pand­ing its hand­washes, san­i­tiz­ers and bBlunt sa­lon range. The in­ter­na­tional busi­ness grew 32% and net sales 3% in the De­cem­ber quar­ter over the year­ago quar­ter. "In a chal­leng­ing op­er­at­ing en­vi­ron­ment, we have de­liv­ered a re­silient and com­pet­i­tive per­for­mance... well ahead of the mar­ket growth," said Adi Go­drej, chair­man, Go­drej Group Ear­lier in the month, Hin­dus­tan Unilever Ltd, In­dia's largest con­sumer pack­aged goods com­pany by sales, had said that the slow­down in ru­ral In­dia along with de­fla­tion­ary trends in in­put costs have im­pacted its sales growth.

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