 "Godrej Consumer hits record high on healthy Q1 results")
Shares of Godrej Consumer Products has moved higher by 5% to Rs 1,265 on the NSE after the company reported a strong 39% year-on-year (YoY) growth in consolidated net profit at Rs 199 crore for the quarter ended June 30, 2015 (Q1FY16).
The company engaged in fast moving consumer goods (FMCG) business had profit of Rs 143 crore in the same quarter, year ago.
Net sales of the company during the quarter grew 11% at Rs 2,095 crore on YoY basis.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved to 15.03%, against 12.82% in the corresponding quarter last year. This was aided by lower commodity costs, the impact of our cost transformation programs and effective leveraging of our brand platforms.
Commenting on the financial performance of 1Q FY 2016, Adi Godrej, chairman, Godrej Group said, we are seeing early signs of consumer demand picking up in India. We remain optimistic that as the economy continues to gain pace, the growth in the FMCG sector this year will be better than last year. Overall, we will strive to deliver a stronger operating performance in fiscal year 2016.
Meanwhile, the company said the board approved acquiring the balance 40% stake in Cosmetica Nacional, a market leading Hair Colorant and Cosmetics Company in Chile.
The hit a record high of Rs 1,277 and has seen a combined 531,645 shares changed hands on the counter on the NSE and BSE till 01:46 PM.
The company engaged in fast moving consumer goods (FMCG) business had profit of Rs 143 crore in the same quarter, year ago.
Net sales of the company during the quarter grew 11% at Rs 2,095 crore on YoY basis.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved to 15.03%, against 12.82% in the corresponding quarter last year. This was aided by lower commodity costs, the impact of our cost transformation programs and effective leveraging of our brand platforms.
Commenting on the financial performance of 1Q FY 2016, Adi Godrej, chairman, Godrej Group said, we are seeing early signs of consumer demand picking up in India. We remain optimistic that as the economy continues to gain pace, the growth in the FMCG sector this year will be better than last year. Overall, we will strive to deliver a stronger operating performance in fiscal year 2016.
Meanwhile, the company said the board approved acquiring the balance 40% stake in Cosmetica Nacional, a market leading Hair Colorant and Cosmetics Company in Chile.
The hit a record high of Rs 1,277 and has seen a combined 531,645 shares changed hands on the counter on the NSE and BSE till 01:46 PM.
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