Godrej Consumer Products rose 3.73% to Rs 1,246 at 13:30 IST on BSE after consolidated net profit rose 38.88% to Rs 199.23 crore on 10.36% rise in total income to Rs 2114.46 crore in Q1 June 2015 over Q1 June 2014.
The result was announced during market hours today, 29 July 2015.
Meanwhile, the S&P BSE Sensex was up 131.43 points or 0.48% at 27,590.66.
On BSE, so far 19,175 shares were traded in the counter as against average daily volume of 7,044 shares in the past one quarter.
The stock hit a high of Rs 1,255 and a low of Rs 1,210 so far during the day. The stock had hit a record high of Rs 1,261.85 on 30 June 2015. The stock had hit a 52-week low of Rs 800.25 on 28 July 2014.
The stock had outperformed the market over the past one month till 28 July 2015, rising 0.62% compared with Sensex's 1.27% decline. The scrip had also outperformed the market in past one quarter, gaining 9.34% as against Sensex's 0.23% gain.
Also Read
The large-cap company has equity capital of Rs 34.05 crore. Face value per share is Re 1.
Godrej Consumer Products said consolidated organic constant currency net sales increased by 12% in Q1 June 2015 over Q1 June 2014. India business branded net sales increased by 13%, led by 13% volume growth and double-digit value growth across core categories. International business grew by 13% on an organic constant currency basis.
The consolidated organic constant currency EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 32%, driven by a robust growth of 23% in the India business and 44% in the international business. GCPL continued to deliver competitive performance in its core categories, across geographies.
The board has declared an interim dividend of Rs 1 per share for the year ending 31 March 2016 (FY 2016).
Commenting on the financial performance of 1Q FY 2016, Mr. Adi Godrej, Chairman, Godrej Group, said: The company had an encouraging start to FY 2016 and delivered strong volume led growth coupled with robust profit growth. The company continues to grow ahead of the market gaining share across our key categories and geographies. The company continued to strengthen leadership position across core categories. In the first quarter, India business branded net sales grew by 13%. This was driven by a healthy volume growth of 13%. International business (in organic constant currency terms) too grew by 13%, despite the macro challenges and slowdown in a few of our larger markets. The consolidated EBITDA (in organic constant currency terms) grew by 32%. This was aided by lower commodity costs, the impact of cost transformation programs and effective leveraging of brand platforms.
The company is seeing early signs of consumer demand picking up in India. The company remains optimistic that as the economy continues to gain pace, the growth in the FMCG sector this year will be better than last year. Though the macro-economic environment in some of international markets remains challenging, the company is confident of delivering ahead of market, profitable growth in these geographies. The company will accelerate the pace of new launches and enhance go to market infrastructure. The company will also continue to manage costs prudently in the near term, while investing for the future. Overall, the company will strive to deliver a stronger operating performance in fiscal year 2016.
The medium and long-term growth prospects in India and other emerging markets remain robust. The company believes that there is still a lot of headroom for growth across these markets, given the low penetration and consumption rates in our core categories, he added.
Separately, Godrej Consumer Products said that the board of directors of the company have approved acquiring the balance 40% stake in Cosmetica Nacional, a market leading Hair Colorant and Cosmetics company in Chile. Consequent to this, the company will have full control of the Chile business once the acquisition process is completed.
Godrej Consumer Products is home-grown home and personal care company.
Powered by Capital Market - Live News