Godrej Consumers Profit Up 41%, Declares Dividend

7 Aug 2024 , 04:07 PM

Godrej Consumer Products Limited (GCPL) has reported a consolidated net profit of ₹450.69 Crore for the fiscal first quarter, marking a significant growth of 41% from ₹319 Crore in the same quarter last year.

Despite the impressive profit growth, the company’s revenue from operations experienced a slight decline. The revenue fell by 3.4% to ₹3,331.58 Crore, compared to ₹3,449 Crore in the corresponding quarter of the previous year, as per the company’s Q1 FY25 results filing.

In a move to reward its shareholders, Godrej Consumer Products has declared an interim dividend of ₹5 per share of Re 1 face value, with the record date set for August 16.

Earnings before interest, tax, depreciation, and amortization (EBITDA) for the quarter stood at ₹724.5 Crore, reflecting a year-on-year growth of 12.7%. The EBITDA margin improved by 200 basis points (bps) to reach 21.8%, demonstrating the company’s enhanced operational efficiency.

Further expanding its portfolio, Godrej Consumer Products announced its foray into the pet care products market. The company plans to invest ₹500 Crore over the next five years in this new venture. “Pet Foods is an approximately ₹500-Crore category, with a potential for strong double-digit growth for the next few decades,” the company stated.