major Godrej Consumer
Products (GCPL) reported a 32 per cent decline in its consolidated profit before tax from Rs 737.59 crore in March 2018 quarter to Rs 500.57 crore in the fourth quarter of 2018-19. It reported a 51.5 per cent increase in consolidated net profit to Rs 935.24 crore in the fourth quarter ended March 2019, but that was largely due to write-back of tax credit on account of minimum alternative tax. Adjusted for the tax adjustments, which include other deferred tax treatment, the net profit declined by 35.7 per cent year-on-year to Rs 500.57 crore. Total revenue from operations during the quarter fell 3.06 per cent to Rs 2,481.72 crore, compared with Rs 2,560.14 crore in the corresponding quarter of the previous fiscal.
GCPL executive chairperson Nisaba Godrej said, “We delivered a relatively weak performance in the fourth quarter of fiscal year 2019. Our India business remained soft on account of a general slowdown in staples consumption and the adverse impact of the delayed summer on our portfolio.” During the quarter, GCPL’s India sales were marginally down 0.9 per cent to Rs 1,356.09 crore, while its international business sales grew 10 per cent on a constant currency basis, said GCPL in a statement. Its revenue from the Indonesian business was up 19.34 per cent while Africa business grew of 13.15 per cent.