Godrej Consumer Products reported 4.8% rise in consolidated net profit to Rs 413.66 crore on a 24.4% increase in total revenue from operations to Rs 2,894.45 crore in Q1 FY22 over Q1 FY21.
As compared with Q4 FY21, the company's net profit and total revenue from operations have risen by 13.1% and 6%, respectively.
Profit before tax in Q1 FY22 stood at Rs 540.90 crore, up by 32.1% from Rs 409.60 crore in Q1 FY21. Current tax outgo declined by 8.6% YoY to Rs 85.99 crore during the period under review.
The company's India business sales grew by 19% to Rs 1,621 crore while volume grew by 15% in Q1 FY22 over Q1 FY21. EBITDA grew by 15% YoY to Rs 425 crore in Q1 FY22.
The Home Care category saw a robust growth of 21%. The company delivered strong double-digit growth in household insecticides. Growth was broad-based across premium formats (aerosols, electrics and non-mosquito portfolio) and burning formats. The company will continue to build on its strategic pivots of taking the category beyond mosquitoes and scaling up its personal repellents range.
Air Fresheners continued to see sequential recovery, though the overall category continues to face headwinds due to its discretionary nature. Home Hygiene witnessed strong demand amidst the second wave of COVID-19.
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The Personal Care category grew by 17%. Personal wash & hygiene continued momentum, delivering strong double-digit sales growth. Hair Colours recorded strong double-digit growth on a low base. The company continued to gain market share, led by micro-marketing initiatives to fuel growth. The company continues to navigate high input costs through calibrated price increases.
The company's Indonesia business delivered a weak performance with sales growth of 0% in constant currency terms. Recovery has been impacted by the second wave of COVID-19 and adverse macroeconomic factors. EBITDA margins contracted marginally by 20 bps year-on-year.
The company's Africa, USA and Middle East cluster delivered a robust sales growth of 60% in constant currency terms. Strong sales growth momentum continues in Southern Africa and West Africa. The company is also witnessing strong performance across categories and has introduced new go-to-market initiatives in key markets. EBITDA margins increased by 1170 bps year-on-year, driven by scale leverage and cost-saving initiatives.
The company's Latin America & SAARCs ales grew by 26% YoY in INR terms and 48% YoY in constant currency terms.
Nisaba Godrej, chairperson and managing director, GCPL, said: We had a strong start to the year, delivering double-digit profitable sales growth. Consolidated sales grew by 24% and EBITDA grew by 29%.
Going forward, we will continue to focus our efforts where the demand is in Home Care and Personal Care - in household insecticides, personal wash & hygiene, and hair care. We have a robust pipeline of consumer-centric innovations and are building out full portfolios across price points.
At the same time, we are strengthening our supply chain operations and distribution networks. We are also ramping up digital capabilities and new channels like e-commerce and chemists.
Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colourants, toiletries and liquid detergents.
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