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FMCG major Godrej Consumer Products Q1 net inches up at Rs 407.6 crore

Mumbai: FMCG major Godrej Consumer Products (GCPL) reported a marginal 0.63%% rise in consolidated net profit to Rs 407.6 crore in the first quarter ended June 30. The company had posted a net profit of Rs 405.04 crore in the corresponding period last fiscal. Total income during the quarter under review stood at Rs 2,370.14 crore, down 5.49% as against Rs 2,508.08 crore reported in the year-ago period, GCPL said.

"Our India business delivered a steady volume growth of 5%, amidst a general slowdown in staples consumption. We expect a gradual recovery in the coming quarters for the industry and also for our business. "In our international businesses, Indonesia continues to have a strong outlook for the year, though this quarter was impacted by a soft demand environment. Africa had a subdued performance. The Southern Africa cluster is off to a strong start and recorded steady growth during the quarter. However, we witnessed a slowdown in some of the smaller markets in Africa," GCPL Exec Chairperson Nisaba Godrej said.