Godrej Consumer Products Q1 net zooms 94% at Rs 239 cr

Godrej Consumer Products (GCPL) on Saturday reported 94 per cent growth in consolidated net profit at Rs 239 crore for the quarter ended June 30, following a strong demand in both domestic and international markets.

Consolidated net sales of the company for the first quarter went up by 40 per cent at Rs 998 crore.

The figures for the current quarter are not comparable with those of the corresponding quarter of the previous year because of the acquisitions made since then.

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"Enhanced penetration and improved volumes have driven our sales growth. Our international operations have also performed strongly during the period under review. We will continue to pursue a prudent but aggressive growth strategy through a blend of organic and inorganic initiatives," GCPL Chairman Adi Godrej said in Mumbai.

GCPL did very well in all product categories, both in domestic as well as the international markets, especially in the household insecticide segment, he said.

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"After strong Q1 results, we expect strong performance in the rest three quarters and also in the next few financial years on the back of innovations backed by investments," he said.

The company recently acquired 51 per cent stake in a leading pan-African haircare company - Darling Group Holdings - for over Rs 500 crore. Godrej said it is looking at similar opportunities in haircare, household insecticides and personal wash categories.

"Under our 'three by three' strategy, we are looking at opportunities in developing world, particularly at countries in Asia, Africa and South America," he said.

When asked if the company is mulling hiking prices, Godrej said: "The input costs have increased and it has put pressure on us. However, we have yet to take a decision on it".