Godrej Consumer reports 7.6% y-o-y decline in Q1FY24 net profit; stock dips ~2%

8 Aug 2023 , 10:30 AM

Godrej Consumer Products recorded a consolidated net profit of Rs 318.82 crore for the April-June quarter of FY24, a 7.6% decrease from Rs 345.12 crore in the same period of the previous financial year.

Following this development, the company’s counter fell more than 2% to Rs 1,005.95.

At around 10.17 AM, Godrej Consumers was trading 2.26% lower at Rs 1,007.45 per piece, against the previous close of Rs 1,030.70 on NSE.

The company’s total revenue was Rs 3,448.91 crore, up 10.36% y-o-y from Rs 3,124.97 crore in the previous corresponding quarter, according to a regulatory filing.

EBITDA was recorded at Rs 642.8 crore, up 23.4% from the same quarter of previous year, while the EBITDA margin came in at 18.60%, up 240 basis points.

The company’s India revenues increased by 9% to Rs 1,971 crore, while volume increased by 12%. Home care expanded by 14%, supported by strong success in household insecticides, which registered double-digit volume and value growth. According to a press release, Air Fresheners has also consistently delivered excellent double-digit growth.

The personal care division of the company increased by 2%. The personal Wash segment maintained its growing pace, with volume growth in the high single digits.

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