FMCG major Godrej Consumer Products Ltd on Wednesday reported a 24.47 per cent growth in its consolidated net profit to Rs 452.14 crore in the fourth quarter ended March 31, 2023, led by volume growth. It had posted a net profit of Rs 363.24 crore in the January-March quarter a year ago, said Godrej Consumer Products Ltd (GCPL) in a BSE filing. The revenue from the sale of products of the Godrej group FMCG arm was up 9.6 per cent at Rs 3,172.21 crore during the quarter under review as against Rs 2,894.15 crore in the corresponding period last fiscal. “4Q FY 2023 consolidated sales grew by 10 per cent in INR led by volume growth of 6 per cent,” said an earning statement from GCPL.
GCPL’s total expenses were at Rs 2,680.39 crore, up 5.73 per cent in Q4/ FY23 as against Rs 2,535.06 crore in the corresponding quarter. Its total income in the March quarter was at Rs 3,258.07 crore, up 10.83 per cent. “The performance was broad-based with India Branded business delivering stellar volume growth of 13 per cent, led by double-digit volume growth in both Home Care and Personal Care,” said GCPL Managing Director and CEO Sudhir Sitapati.
GCPL’s India revenue was up 11.47 per cent to Rs 1,822.92 crore in the fourth quarter of FY23 as against Rs 1,635.34 crore of the corresponding quarter. This was led by volume growth of 11 per cent, said GCPL. Its Home Care segment, which consists of household insecticides and air fresheners grew by 14 per cent and 17 per cent by personal care having hair colour and personal wash categories. Revenue from the Indonesian market was up 8.2 per cent to Rs 434.54 crore as compared with Rs 401.60 crore in the year-ago period. “Core business performance improves in Indonesia with sales growth of 5 per cent in constant currency terms. Sales, excluding Hygiene (Saniter), saw a growth of 11 per cent in constant currency terms,” it said.
GCPL’s revenue from Africa (including Strength of Nature) market was up 6.54 per cent at Rs 770.09 crore as against Rs 722.77 crore a year ago. “Our Africa, USA and Middle East cluster delivered high single-digit sales growth of 8% in constant currency terms. Performance was impacted by election and demonetisation in Nigeria; however, the business saw a recovery in March 2023,” it said.
While revenue from other markets was down 3.76 per cent to Rs 203.59 crore in Q4/FY23 as against Rs 211.55 crore. In 2022-23, GCPL’s net profit was down 4.53 per cent to Rs 1,702.46 crore. It was at Rs 1,783.39 crore in FY22. Its consolidated revenue from operations in FY23 increased 8.41 per cent to Rs 13,198.69 crore. Shares of Godrej Consumer Products Ltd on Wednesday settled at Rs 962.60 on BSE, up 1.17 per cent from the previous close.
