Godrej Consumer extends fall on disappointing Q1 results

The stock dipped 7% to Rs 958, extending its Monday's 2% fall on BSE.

Godrej Consumer Products (GCPL) dipped 7% to Rs 958, extending its Monday’s 2% fall on BSE, after the company reported 9% decline in consolidated net profit to Rs 225 crore, as advertising and other expenditure grew sharply during the June quarter (Q1FY18).

Consolidated net sales grew 3% to Rs 2,177 crore, against Rs 2,117 crore a year ago. India business sales growth of 6% year-on-year, led by flat volume growth.

Analysts on average had expected profit of Rs 264 crore on net sales of Rs 2,279 crore.

“While sales in April and May were strong, June sales