 "Godrej Consumer estimates double-digit Q1 sales growth on strong demand")
India's Godrej Consumer Products on Wednesday estimated that its sales increased in the double-digit percentage range in the June quarter, led by strong demand for its home care and personal care products.
Godrej Consumer said its India home care business unit, which houses the Goodknight and HIT brands, recorded double-digit volume growth in the three months ended June 30, while it logged a higher-than-mid-single digit volume growth in its personal care division, home to Cinthol soaps.
"In India, overall consumer demand remained steady as seen in the previous few quarters," Godrej Consumer said in a statement. The business made up nearly 57% of its total revenue in the immediately previous quarter.
The company estimated its overall sales volumes, including in overseas markets, rose in the high-single digit percentage range.
Godrej Consumer also said its "quality of profits has seen sustained improvement, led by robust gross margin expansion."
Shares were last up 1.4% at 1,076.95 Indian rupees ($13.08), adding to their 21.5% gain so far this year.
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Godrej Consumer also expects to have some expense related to its acquisition of Park Avenue and KamaSutra brands.
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