Page 6 - Commodity Prices

Godrej Consumer Q1 net profit down 17% at Rs 345 cr; revenue up 8%

FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday reported a 16.56 per cent decline in its consolidated net profit at Rs 345.12 crore for the first quarter ended June 30, 2022, on account of commodity inflation and upfront marketing investments. It had posted a net profit of Rs 413.66 crore in the April-June quarter a year ago, GCPL said in a regulatory filing. The revenue from the sale of products of the Godrej group's FMCG arm was up 8.08 per cent at Rs 3,094.31 crore during the quarter under review, as against Rs 2,862.83 crore in the corresponding period last fiscal. GCPL's total expenses were at Rs 2,696.29 crore in Q1/FY 2022-23, up 13.64 per cent from Rs 2,372.65 crore in the corresponding quarter a year ago. "Our overall EBITDA declined by 13 per cent driven by unprecedented global commodity inflation, upfront marketing investments and a weak performance in our Indonesia and Latin America & SAARC businesses," GCPL Managing Director and CEO Sudhir Sitapati ...

Easing raw material costs promising for Indian consumer companies

While reporting a 4.5% fall in second-quarter profit and higher expenses, Nestle India said on July 28 it could see softening of prices in such commodities as edible oil and packaging materials.

Falling commodity prices may soften inflation, but it may remain elevated

Parliament likely to discuss the matter today; MPC to consider matter at 3-day meet that begins on Wednesday

Market sentiment gets a boost as FPI selloff stems in July after 10 months

What led to such record outflows? "Rising global central banks' rates, rupee depreciation, expensive valuations and geopolitical risks," says BofA in a note.

Is the FMCG sector coming out of the woods?

The FMCG sector went through a difficult phase in the last two years. But, after the recent drop in commodity prices, are things looking up for the sector now? Our next report takes a deep dive

Morgan Stanley expects India's FY24 GDP growth to slow down to 6.4%

It said the GDP growth will slow down to 6.4 per cent in FY24, the brokerage said, adding that this is lower by 0.30 per cent compared to the earlier estimate.

GST changes from Monday may put pressure on retail inflation: Experts

Falling global commodity prices may neutralise the impact, say experts

Farm to Fork: Food firms wait for commodity prices to cool further

The second of a four-part series focuses on how food companies are yet to pass on the benefit of the decline in input prices to consumers

Sensex ends 617 pts up, Nifty near 16K; Bajaj twins gain 5%, HUL 4%

Despite a 0.8 per cent fall in heavyweight Reliance, Bajaj twins, HUL, Asian Paints, Maruti, Titan, Kotak Bank and Nestle led the upmove on the Sensex, moving up to 4.8 per cent higher.

Wipro Consumer to withdraw sanitisers from market as demand decreases

The company may also withdraw some variants of other categories that were launched during the pandemic, said Vineet Agarwal, chief executive officer of Wipro Consumer Care

Rupee weakens to a new low; traders see currency breaching 79/$ soon

So far in 2022, the rupee has shed around 5.8 per cent against the dollar as higher US interest rates and a surge in global commodity prices have the outlook on the currency

Benchmark indices extend winning streak as commodity prices moderate

Buying in IT stocks - spurred by a global trend - accounted for the bulk of the gains in the benchmark indices

FMCG firms' margins may face pressure next quarter as commodity prices rise

This comes even as raw material prices cool

RBI acts in forwards market to protect forex reserves, pulls down premiums

This move by the central bank results in premiums crashing

Nifty auto index surges 7% in biggest weekly advance in 17 months

The latest gain comes on the back of easing commodity prices and supply chain issues

Easing commodity prices aid market rally; indices jump 2.6% during week

FPI selling in June nears Rs 50,000 crore

India facing twin deficit problem due to commodity prices, subsidy: FinMin

Ministry's report urges rationalising non-capex spend not only for protecting growth supportive capex but also to avoid fiscal slippages

India better placed than many others to avoid stagflation: RBI article

The article noted that global economic conditions continue to deteriorate as ratcheting up of commodity prices and financial market volatility have led to heightened uncertainty

MCX Crude Oil may test Rs 9,000-mark; Key hurdle for Natural Gas at Rs 590

The MCX Natural Gas futures can slide all the way towards its 100-DMA placed at Rs 485-level; Crude Oil prices may see share reaction on breakout of the Rs 9,000-9,700 expected trading band.

No sign of overcapacity yet as global commodity prices come off peaks

The exception is energy, which isn't dictated by liquidity conditions, but by decisions of the Opec-plus cartel, where plenty of other factors come into play