Godrej Consumer Products rose 2.86% to Rs 822.25 after the company said it has divested its entire stake in Bhabani Blunt Hair Dressing ("Bblunt") to Honasa Consumer for Rs 84.5 crore.
Honasa Consumer (HCPL), the parent company of direct to consumer brand, Mamaearth, has acquired Bblunt, a hair care, hair colour and styling products brand from Godrej Consumer Products (GCPL), along with Bblunt salons operated by Bhabani Blunt Hair Dressing.Godrej Consumer Products will receive a total of Rs 84.5 crore from the divestment business.
On a consolidated basis, Godrej Consumer Products' net profit rose 5.08% to Rs 527.60 crore on a 8.08% increase in net sales to Rs 3,302.58 crore in Q3 December 2021 over Q3 December 2020.
Godrej Consumer Products is an Indian consumer goods company. The company's products include soap, hair colourants, toiletries and liquid detergents.
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