GCPL Q2 net down 28% at Rs 414 cr; declares interim dividend of Rs 2/share

Godrej Consumer Products Ltd (GCPL) on Wednesday reported 28.36 per cent decline in consolidated profit after tax at Rs 413.88 crore for the second quarter ended September 30.

The company had posted consolidated profit after tax of Rs 577.73 crore in the same quarter last fiscal, GCPL said in a regulatory filing.

Consolidated sales during the period under review stood at Rs 2,608.15 crore as against Rs 2,643.26 crore in the year-ago period, a decline of 1.33 per cent, it added.

During the period ended September 30, there has been sale of certain brands within its entities that will derive benefits of future tax deductions for the group. Consequently, a deferred tax asset amounting to Rs 111.05 crore has been recognised in the consolidated financial results, GCPL said.

In value terms, the company said its sales in India grew by 1 per cent to Rs 1,490 crore, while volume growth was 7 per cent led by new product launches, effective marketing campaigns and consumer offers.

Household insecticides revenue in India was at Rs 683 crore, soaps at Rs 491 crore, hair colour at Rs 160 crore, while other categories stood at Rs 179 crore, it added.

GCPL said its international business clocked net sales of Rs 1,144 crore, up 4 per cent.

The company also said its board has declared interim dividend of Rs 2 per share, 200 per cent on shares of face value of Re 1 each, for the financial year 2019-20.