GCPL Q1 net profit down 8.7% to Rs 225 crore

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New Delhi: India’s Fast-moving consumer goods (FMCG) main Godrej Consumer Products Ltd (GCPL) on Monday posted an 8.70 per cent reduce in net profit to Rs 225.17 crore for the April-June quarter due to tepid sales post GST and superior expenses. The corporation reported a net profit of Rs 246.65 crore in similar quarter a year-before period.

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The corporation further stated in a BSE filing that net sales throughout the period under review grew 3.42 per cent to Rs 2,266.69 crore as next to Rs 2,191.64 crore of the June quarter of the preceding fiscal. Total expenses during the period were at Rs 1,998.88 crore, grew 6.53 per cent, as next to Rs 1,876.23 crore.

GCPL’s revenue from the domestic market up 5.35 per cent to Rs 1,196.16 crore for June quarter, from Rs 1,135.39 crore a year before period. GCPL Executive Chairperson Nisaba Godrej has also conveyed that, sales in April and May were burly, June sales expansion dished due to channel de-stocking in the run-up to the execution of the transformative Goods and Services Tax.

Revenue contribution from its Indonesian operations down 14.17 per cent at Rs 322.88 crore as next to Rs 376.20 crore previous year. Revenue from its African market, which comprises the Strength of Nature brand, grew 12.87 per cent at Rs 512.26 crore as against 453.83 crore former. Contribution from other markets was at 260.27 crore, grew 2.49 per cent, from Rs 253.93 crore of the corresponding period of 2016-17.

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