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FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday reported a 9.67 per cent increase in consolidated net profit to Rs 451.77 crore in the March quarter, led by volume growth from the domestic market, and cost management. It had posted a net profit of Rs 411.9 crore in the year-ago period, GCPL -- the FMCG arm of Godrej Industries Group -- said in a regulatory filing. Total revenue from operations was up 11 per cent at Rs 3,900.44 crore during the quarter from Rs 3,514.23 crore. The revenue growth was "on the back of underlying volume growth of 6 per cent", GCPL said in its earnings statement, quoting its Managing Director Sudhir Sitapati. Its EBITDA grew 10 per cent, with operating margin at 21.7 per cent, it added. GCPL's total expenses were Rs 3,225.44 crore, up 10.56 per cent. Its revenue from the domestic market, where it operates with brands such as Good Knight, Cinthol and HIT, was Rs 2,360.75 crore, up 9.25 per cent. The standalone business (which primarily consis
Consumers will start getting FMCG products at reduced prices only by early or mid-next month, as goods take time to reach markets with the new MRPs, Godrej Consumer Managing Director and CEO Sudhir Sitapati has said. The reduction of tariff to 5 per cent has also created "some short-term disruptions", as the industry operates on an MRP regime, and dealers and companies are sitting on stocks with high MRPs, he added. "The FMCG sector operates on an MRP regime, and stocks that dealers and companies are sitting on today are at higher MRPs. Simply passing on money to trade does not guarantee that it reaches consumers directly. It will take a little time before new MRPs flow into the market," he said. "By early or mid-next month, consumers will start seeing reduced prices on FMCG products," he pointed out. The all-powerful GST Council last week decided to reduce taxes on most of the common-use goods as part of the government's measure to boost consumer spending, including hair oil, soap