GCPL Q4 net zooms 73%

Net sales during the period under review stood at Rs 1,715.51 cr as against Rs 1,323.04 cr

Homegrown FMCG major Godrej Consumer Products Ltd on Tuesday reported a whopping 73.45 per cent increase in net profit at Rs 334.14 crore for the fourth quarter ended March 31, 2013, on the back of robust growth in domestic business. Net sales during the period under review stood at Rs 1,715.51 crore as against Rs 1,323.04 crore, up 29.66 per cent, the company said in a statement.

Change in management
GCPL announced senior management level changes on Tuesday with the appointment of Vivek Gambhir as its managing director with effect from July 1. Hw will replace A Mahendran, who will step down on June 30. Gambhir has been inducted as a non-executive director from April 30, while Mahendran will continue as a non-executive director from July 1.

Meanwhile, Nisaba Godrej, currently a non-executive director on the board of GCPL, will become executive director from July 1. Before her elevation, Godrej was designated as president, human resources and innovation.

The board also approved induction of Ireena Vittal as a non-executive director from April 30. She will be considered an independent director on the board, GCPL said.

"With the above reconstitution, the total board strength is 14 directors, out of which seven are independent directors," GCPL added.