GCPL net rises 68%

Godrej Consumer Products (GCPL) said it recorded Rs 116 crore net profit for the quarter ending June 30, up 68 per cent from the Rs 69.4 crore profit in the corresponding period of the previous year.

“The figures for the current quarter are not comparable to those of the corresponding period of the previous year because of the acquisitions made since then,” the company said in a statement.

Net sales for the quarter rose to Rs 643 crore against Rs 437.4 crore in the year-ago period.

In the quarter, the company completed multiple acquisitions. It acquired the Indonesian Megasari Makmur Group and its distribution, the Tura brand in Nigeria and the Issue Group and Argencos in Argentina. It also acquired the remaining 51 per cent stake in Godrej Sara Lee.

“Driven by our 3x3 strategy, we have significantly enhanced our domestic and international presence,” said Adi Godrej, chairman of the company.

The company had termed its presence in three continents — Asia, Africa and Latin America — through three core categories of home care, personal wash and hair care as the 3x3 strategy.

“The macro economic environment is improving. We continue to explore opportunities to strengthen our presence and competitive position in the home care, personal and hair care space,” Godrej added.

GCPL said the board of directors had recommended a 100 per cent interim dividend, which will entail an outflow of Rs 37.9 crore.