Godrej Consumer Q4 results: GCPL reports Rs 1,893 crore net loss in Q4

Godrej Consumer Products Ltd (GCPL), on Monday, reported Rs 1,893.2 crore net loss for the January-March 2024 quarter. The company had reported Rs 452 crore net profit in the corresponding quarter previous year, while its net profit was Rs 581 crore in the previous quarter. According to the company, an exceptional accounting charge worth Rs 2,378 crore during the quarter impacted its bottom-line.

In the quarter, GCPL’s net sales grew 6 per cent year-on-year to Rs 3,365 crore -- up from Rs 3,172 crore. While for FY2024, its sales net sales grew 5.8 per cent to Rs 13,974 crore over Rs 13,198.7 crore it had posted in FY2023.

Its bottom-line, however, remained in red. For FY2024, GCPL reported Rs 560.55 crore net loss, compared to Rs 1,702.5 crore net profit in FY2023. Softening raw material prices helped GCPL’s margins and bottom-line in FY2024. In comparison to Rs 6,185 crore it had spend on cost of raw materials in the previous year, in FY2024 its cost under the head declined 8.2 per cent to Rs 5,678 crore - lowering the impact of exceptional charges on its bottom-line.

“We delivered a strong performance for all four quarters in FY2024, despite challenging conditions across markets. Our consolidated organic volumes for Q4FY24 grew by 9 per cent, led by the India business growing volumes at 7 per cent and Indonesia growing volumes at 12 per cent. This led to strong full-year organic volume growth delivery at 7 per cent for our consolidated business, 6 per cent for India and 11 per cent for Indonesia,” said Sudhir Sitapati, Managing Director and CEO, GCPL.