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| Godrej profit doubles |
| BS Reporter / Mumbai Jan 24, 2010, 00:06 IST |
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Net increases due to growth in international business.
The consolidated net profit of Godrej Consumer Products Ltd rose 112 per cent to Rs 85.1 crore in the third quarter ended December 2009, against Rs 40.1 crore in the same period the previous year. Net sales were up 53 per cent in the quarter at Rs 517.6 crore, from Rs 338.1 crore a year earlier.
On a standalone basis, the company’s net profit increased 44 per cent to Rs 56.2 crore during the period, from Rs 38.9 crore a year earlier. Net sales were up 16 per cent, at Rs 316 crore in the quarter, from Rs 271.8 crore a year ago.
 The company attributed its modest standalone performance to its domestic business, which grew 16 per cent in the third quarter. Its consolidated figures were better since the international business did well, growing 26 per cent during the period under consideration.
The company took up a number of initiatives on the international front to boost sales. These include rolling out 50-ml and 100-ml Cuticura packs to new retail chains under its keyline brands business in the UK. The company introduced the Godrej No.1 soap in the South African wholesale market under its Rapidol business, besides launching two new hair colours in the same market during the quarter.
On the domestic front, both hair colourants and toilet soaps, key categories for the company, grew marginally. The growth was 0.7 per cent for the two segments, with value shares standing at 33.2 per cent and 10.3 per cent, respectively.
The company also forayed into the hand-hygiene space in the period under review with Protekt. Basically, hand sanitisers, hand wash and wet wipes were launched in three variants — original, citrus and blossom.
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