Godrej Consumer Products' consolidated net profit jumped 10.66% to Rs 458.02 crore on 10.83% rise in total revenue from operations to Rs 2,915.12 crore in Q2 September 2020 over Q2 September 2019.
Consolidated profit before tax (PBT) surged 22.24% to Rs 604.32 crore in Q2 September 2020 as against Rs 494.36 crore in Q2 September 2019. Current tax expense for the quarter jumped 35.85% to Rs 117.23 crore as against Rs 86.29 crore in Q2 September 2019.
Q2FY21 consolidated EBITDA grew by 19% year-on-year and consolidated EBIDTA margins expanded to 23.7%. The Q2 result was declared during trading hours today, 5 November 2020.
Indonesia sales grew by 5% in INR and 3% in constant currency terms, year-on-year. Africa, USA and Middle East sales grew by 10% in INR and constant currency terms, year-on-year. Latin America & SAARC sales grew by 41% in INR and 46% in constant currency terms, year-on-year.
Q2 FY21 India sales grew 11% Y-o-Y (year-on-year) to Rs 1,650 crore as against Q2 FY20. Volumes rose 5% Y-o-Y during the period under review. Q2 FY21 EBITDA grew 17% Y-o-Y to Rs 460 crore.
Commenting on the Q2 FY21 business performance, Nisaba Godrej, the chairperson and managing director (MD) of Godrej Consumer Products (GCPL), says: "We delivered a strong performance this quarter with double-digit, profitable sales growth. Consolidated sales grew by 11% and EBITDA grew by 19%. All our geographic clusters also recorded positive sales growth. From a category sales perspective, Household Insecticides, Hygiene and Value for Money (which contributed to 83% of our global portfolio) grew by 17%. Household Insecticides grew by 6%, Hygiene grew by 27% and Value for Money grew by 22%."
"From a geography sales perspective, India grew at 11%. Our Africa, USA and Middle East business showed robust recovery, growing at 10% in both constant currency and Rs terms. Our Indonesian business delivered a soft performance, growing at 3% in constant currency and 5% in Rs terms."
"Going forward, we will continue to focus our efforts where the demand is - in Household Insecticides, Hygiene, and Value for Money. We are ramping up innovation and have launched several new products, strongly price-enabled, across geographies. Across channels too, we are making a shift; doubling down on digitisation and platforms like e-commerce and chemists. We are also strengthening our supply chain operations and distribution. Overall, the situation we are in calls for an extraordinary level of agility and resilience. I am extremely proud of our team for bringing out the best in themselves to push onwards at this difficult time."
Shares of Godrej Consumer Products fell 1.43% to Rs 666.30 on BSE.
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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