GCPL net dips 29% at Rs 236.28 crore

Company had reported a net profit of Rs 334 crore in the corresponding period last year

Godrej Consumer Products Ltd’s consolidated net profit fell 29 per cent to Rs 236 crore for the quarter ended March, because of exceptional items in the corresponding quarter of 2012-13.

Net profit was Rs 334 crore in the year-ago period, the company said in a BSE filing on Monday. GCPL reported an exceptional item of Rs 129 crore in the year-ago quarter.

Net sales were up 12 per cent to Rs 1,924 crore against Rs 1,718 crore in the corresponding quarter last year. Overall expenses rose to Rs 1,603 crore from Rs 1,458.5 crore in the year-ago period. The company said figures of this March quarter were not comparable to that of the previous year because of acquisitions made since then.

During fiscal 2013-14, GCPL reported net profit of Rs 759.73 crore, compared to Rs 796.10 crore in the previous fiscal.

The company also said its board of directors has declared a fourth interim dividend of Re 2.25 per share for the financial year 2013-14.

Shares of Godrej Consumer were trading at Rs 791.80 apiece in the afternoon trade, down 1.69 per cent from their previous close on the BSE.