Godrej Consumer's FY20Q2 results beat estimates, domestic volume up 7%

Each of the two key segments, household insecticides and soap (around 75 per cent of domestic sales), reported a 7 per cent volume growth in Q2 versus a decline or muted volumes in the April-June qua

Godrej Consumer Products’ (GCPL’s) better-than-expected earnings for the July-September 2019 quarter (Q2), on Wednesday, cheered the Street, with the stock rising up to 5 per cent before closing the session up 2.7 per cent at Rs 741.6.

GCPL’s net profit at Rs 413.9 crore was way ahead of Bloomberg consensus estimate of Rs 388 crore. A 28-per cent year-on-year (YoY) decline in reported net profit was mainly due to one-off gains in the year-ago quarter, and adjusting for the same, Q2 profit shows a sharp 31 per cent growth. Profit before tax and exceptional items at Rs 497.9 crore was up