Godrej Consumer Products Limited (GCPL) is trading lower by 5% at Rs 687, fallen by over 10% from intra-day high after reporting a lower than expected 25% year-on-year (yoy) jump in consolidated net profit at Rs 159 crore for the quarter ended September 2012.
Analyst on an average expected profit of Rs 171 crore from the maker of HIT insecticides and Cinthol soaps. The lower net profit growth due to higher overheads in terms of staff costs and higher ad spends. The company’s operating margins declined by almost 100 bps to 16.03% from 17.33% in year ago quarter.
“Consolidated sales grew 35% at Rs 1,595 crore from Rs 1,186 crore during the recently concluded quarter,” GCPL said in a statement.
The stock opened at Rs 760 on the BSE and has seen a combined 204,518 shares changing hands on the counter so far on both the exchanges.