Shares of Godrej Consumer Products Ltd (GCPL) today surged almost 10 per cent after the company reported an over three-fold jump in consolidated net profit for the quarter ended March 31.
The stock zoomed 9.74 per cent to settle at Rs 1,929.25 on BSE. During the day, it surged 11.27 per cent to Rs 1,956.20 -- its 52-week high.
On NSE, shares of the company jumped 9.98 per cent to close at Rs 1,929.40.
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Led by the sharp rally in the stock, the company's market valuation rose by Rs 5,831.41 crore to Rs 65,710.41 crore.
In terms of volume, 2.10 lakh shares of the company were traded on BSE and over 20 lakh shares changed hands on NSE during the day.
GCPL today reported an over three-fold jump in consolidated net profit to Rs 389.91 crore for the fourth quarter ended March 31, 2017 driven by strong sales growth in most categories.
The company, which also announced a change in leadership with appointment of Nisaba Godrej as executive chairperson from May 10, 2017, had posted a net profit of Rs 124.84 in the January-March period a year ago.
GCPL's net sales during the period under review was up 12.51 per cent to Rs 2,480.17 crore as against Rs 2,204.36 crore of the corresponding quarter of the previous fiscal, the company said in a statement.
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