Godrej Consumer Products Ltd (GCPL) saw a 4% increase in net profit at Rs 546 crore ($66.8 million) in the third quarter ending December 2022, compared to Rs 528 crore is reported for the same period last year.
The company’s revenue for the quarter rose 9% to Rs 3,599 crore, compared with Rs 3,303 crore the company posted for the corresponding period of the previous financial year.
Godrej’s costs skyrocketed to Rs 2,969 crore from Rs 2,714 crore in the same quarter a year ago.
During the quarter, Indian business sales grew 11% with home and personal care services up 10% and 14% respectively.
Commenting on the results, Sudhir Sitapati, managing director, CEO of GCPL in a statement said: “We achieved an all-round performance in the third quarter of fiscal 2023. Overall sales increased by 9 % and we have seen a strong consecutive increase in underlying volume growth.”
He added: “With commodity pressure easing, we expect a gradual recovery in consumption, expansion of gross margins, upfront marketing investment with a significant focus on reducing costs. can control costs and improve profitability in the coming quarters.”
GCPL is owned by Godrej Group which is one of India’s leading players in cosmetics and personal care market.
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