Godrej Consumer net declines 6.2%

Due to rising costs of raw materials, Godrej Consumer Products (GSPL) saw its net profit dip by 6.2 per cent to Rs 34.73 crore for the second quarter ended September 2008 compared with Rs 37.06 crore in the previous comparable period.

Its raw material costs saw an increase of 61 per cent for the quarter at Rs 184.57 crore.

However, the company outperformed the market with a revenue growth of 27 per cent for the quarter at Rs 355.33 crore (Rs 280.39 crore). The market grew at 17 per cent, according to an AC Nielsen report. Soaps were the major revenue earners, accounting for 71 per cent of the sales, followed by hair colour at 16 per cent, toiletries at 6 per cent and liquid detergents and by-products at 2 and 5 per cent, respectively.