Godrej underperforms December quarter; misses market expectations

Godrej Consumer Products’ December 2019 quarter (Q3) performance was a tad below the market’s expectations. On a consolidated basis, while GCPL’s net sales grew 2.1 per cent year-

on-year (YoY) to Rs 2,775.1 crore, its profit after tax was up 7.7 per cent YoY to Rs 449.6 crore. Analysts were expecting these two numbers at Rs 2,790 crore and Rs 450 crore, respectively. 

The company continued to focus on volumes. On a sequential basis, GCPL, owner of popular consumer brands, such as Goodknight and Cinthol, was able to maintain its domestic volume growth at 7 per cent despite the further deterioration in