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Godrej Consumer Products (GCPL) today reported a consolidated net profit of Rs 244.27 crore for the first quarter ended June 30, 2016.
The company had reported a net profit of Rs 116.72 crore in April-June period a year ago, GCPL said in a BSE filing.
The results are not comparable in view of acquisitions and changes in the company’s shareholding in some of the subsidiaries, said GCPL, which had acquired US-based Strength of Nature LLC in April this year.
GCPL’s consolidated net sales during the quarter under review stood at Rs 2,120.22 crore. It was Rs 1,985.43 crore in the corresponding quarter.
“We delivered this performance despite the sluggish business environment across many geographies that we are present in. Additionally, sales was also impacted by the unfavourable weather conditions in some of our key geographies. We delivered healthy profits driven by judicious cost control and commodity tailwinds,” Godrej Group Chairman Adi Godrej said.
GCPL’s revenues from India were Rs 1,063.97 crore. The revenues stood at Rs 1,063.39 crore in the April-June quarter of the previous fiscal.
“Our India business performance was impacted by a stretched summer and late onset of monsoon, which resulted in a weak performance in Household Insecticides,” Godrej said.
GCPL’s revenues from its Indonesian business stood at Rs 376.20 crore. During the corresponding quarter previous fiscal, it was Rs 349.90 crore.
Revenues from Africa were Rs 442.98 crore and other regions were at Rs 266.36 crore. It was Rs 303.35 crore and Rs 296.87 crore, respectively last fiscal.
Over the outlook, he said: “We should also see a boost to consumption in India, following the implementation of the Seventh Pay Commission and the passing of the GST Bill. We are relentlessly focusing on our strategy and investing strategically in creating new growth vectors for the future.“
Meanwhile, in a separate filing GCPL informed BSE that its board today “declared a first interim dividend Re 1 per share (100% on the shares of the face value of Re 1 each) for the financial year 2016-17“.
Shares of GCPL ended down by 2.67 per cent at Rs 1,591.35 on the BSE.
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