Godrej Consumer Products posts 13 pc rise in Q2 profit
24-Oct-2024 08:42 PM 3284
New Delhi, Oct 24 (Reporter) Fast-moving consumer goods (FMCG) company Godrej Consumer Products Ltd on Thursday reported 13.52% year-on-year rise in consolidated net profit to Rs 491.31 crore for the July-September quarter (Q2) of the current financial year 2024-25. The company had posted a profit of Rs 432.77 crore in the Q2 of previous financial year 2023-24. The FMCG company's revenue from operations during the September quarter of the current fiscal stood at Rs 3,666.33 crore as against Rs 3,601.95 crore in the corresponding period a year ago thus registering a growth of 2% year-on-year. Commenting on the business performance of Q2FY25, Sudhir Sitapati, Managing Director and CEO of Godrej Consumer Products said that the company had a steady quarter given the headwinds of oil costs and tough consumer demand in India. "Our Standalone business grew by 7% in both volume and value and flat reported EBITDA. Our standalone EBITDA margin at 24.3% is at the lower end of our targeted band and is caused entirely by high inflation on palm oil. The already high prices were further exacerbated by the import duty on oil. We think this is a short-term hit and we will recover the margins through judicious price increase and stabilising of costs...////...
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