Godrej Consumer slips 8% on disappointing Q3 results

The stock slipped 8 per cent to Rs 699 on BSE after it reported 1.5 per cent year-on-year decline in consolidated net profit at Rs 423.52 crore for December 2018 quarter.

Shares of Godrej Consumer Products slipped 8 per cent to Rs 699 on BSE after it reported 1.5 per cent year-on-year (YoY) decline in consolidated net profit at Rs 423.52 crore for December 2018 quarter (Q3FY19).

Operational revenue grew 3.5 per cent at Rs 2,722 crore in Q3FY19 on YoY basis. Earnings before interest, taxation, depreciation and ammortisation (EBITDA) margin remained stable at 22.4 per cent over the previous year quarter.

Analysts on an average had expected a profit of Rs 455 crore on revenue of Rs 2,812 crore for the quarter.

The company said household insecticides (HI)