Godrej Consumer shares rise 11%, hit record high on Q3 earnings

Shares of Godrej Consumer Products Ltd surged to their record high after the FMCG firm announced its Q3 earnings. Godrej Consumer Products stock rose 11.66% to a high of Rs 1299.90 against the previous close of Rs 1164.15 on BSE. Market cap of Godrej Consumer Products climbed to Rs 1.28 lakh crore. The stock of Godrej Consumer Products opened higher at Rs 1205.25 today against the previous close of Rs 1164.15 on BSE. Total 5.34 lakh shares changed hands over the counter amounting to a turnover of Rs 67.86 crore.

Godrej Consumer Products stock has surged 10% this year and risen 35.56% in the last one year. Total 5.34 lakh shares of the firm changed hands amounting to a turnover of Rs 67.87 crore on BSE. 

The stock has a beta of 0.2, indicating low volatility in a year. In terms of technicals, the relative strength index (RSI) of Godrej Consumer Products stock stands at 58.5, signaling it's trading in the overbought nor in the oversold zone.

Godrej Consumer Products stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

The Godrej Group firm reported a 6.4 percent rise in consolidated net profit to Rs 581.1 crore for the December quarter of FY24 against Rs 546.3 crore a year ago. Total revenue rose 1.7 percent to Rs 3659.6 crore in Q3 from Rs 3,599 crore in the year-ago quarter. The company's consolidated revenue growth was significantly impacted by the devaluation of the Naira and the Argentine Peso.

Earnings before interest, tax, depreciation and amortization (EBIDTA) grew 15.7 percent year on year at Rs 840.7 crore.

EBIDTA margins came at 23 percent and climbed 28 basis points YoY. One basis point is one-hundredth of a percentage point.

Home care business saw 5 percent YoY growth during the quarter, whereas, household insecticides volume growth was in low-single digits.

 

 

Also read: Stock recommendations by analyst for February 1, 2024: Exide, DCW and Trident

Also read: Top 5 stocks to watch on February 1: Paytm, Glenmark Pharma, Adani Enterprises and more

Also read: Tata Motors' total sales in January up 6% YoY; stock hits one-year high