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Business EconomyPosted at: Aug 7 2024 8:26PM


Godrej Consumer Products net up 41 pc at Rs 450.69 cr in Q1; enter Pet care biz

New Delhi, Aug 7 (UNI) FMCG major Godrej Consumer Products Limited on Wednesday announced an over 41 percent jump in net profit at Rs 450.69 crore during the April-June quarter of fiscal 2024–25 year-on-year basis as against Rs 318.82 crore in the same period last year.
Revenues from operations fell marginally to Rs 3331.58 crore during the first quarter of 2024–25, compared to Rs 3448.91 crore in the same quarter of 2023–24, the company said in a regulatory filing with the stock exchanges.
Commenting on the business performance of Q1 FY 2025, Sudhir Sitapati, Managing Director and CEO, GCPL, said, “We started the year with a healthy volume growth in our key geographies of India and Indonesia. In India, we delivered organic volume growth of 8% and reported volume growth of 10%. The performance was broad-based across home care and personal care.”
In Indonesia, the company continues to deliver robust performance with 7% volume growth. In organic terms, sales in Africa, the USA, and the Middle East declined by 10% in constant currency terms and 25% in Indian currency terms due to the depreciating naira; however, offtakes continued to remain strong. This translated into organic consolidated revenue declining by 1%, while in constant currency terms, sales were up by 11%, the company said.
Our quality of profits has been improving consistently over the last few quarters, with reported consolidated gross margins improving by 230 bps year-on-year. Our EBITDA margin, too, improved by 310 bps year-on-year, Sitapati said.
Today, he said, “We are announcing the formation of Godrej Pet Care (GPC), a subsidiary of GCPL. Pet foods is already a Rs 5,000 crore category, with many decades of late teens growth ahead. To give a perspective, only about 10% of Indians own a pet, of which only 10% feed packaged food, and that too only 40% of the time. The calorie conversion rate in India is only 4%. China, which was remarkably similar to India 15 years ago, has 20% pet ownership with a calorie conversion of 25%.”
The home-care segment grew by 8% during the quarter. Household insecticide volume growth was stable at low single digits, impacted by severe heatwaves. Goodknight Agarbatti is scaling up well and gaining market share from illegal Incense Stick players, the company statement post result said.
Air fresheners continue to consistently deliver double-digit volume growth. It continues to gain market share and enjoy market leadership, it said, adding that Fabric Care delivered strong double-digit volume growth.
The personal care segment grew by 6%.
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Tags: #Godrej Consumer Products net up 41 pc at Rs 450.69 cr in Q1; enter Pet care biz
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