Godrej Consumer Q3 net profit drop by 4%; Nov sales hit by demonetisation
Godrej Consumer Products on Monday reported its financial result for the quarter ended on December 31. The company registered a net profit of Rs 352 crore during the quarter, down 4% as against Rs 368 crore during the same period last year.
The company's consolidated net sales rose by 8% to Rs 2,475 crore during the quarter as against Rs 2,283 crore in Q3FY16. India business remained flat at Rs 1,263 crore as compared to Rs 1,269 crore in Q3FY16. The international business' net sales jump by 19%.
The company in a regulatory filing said that the November, 2016 growth was impacted by demonetisation. However, recovery was seen in December which reflected positive growth. Urban wholesale and rural impacted most by demonetisation, the company said.
The EBITDA during the quarter rose by 14% to Rs 517 crore as compared to Rs 455 crore during December , 2015 quarter. The EBITDA margin in Q3FY17 stood at 20.9% as against 19.9% in Q3FY16.
Post the announcement of result, the company's share price surged. At 1243 hours the shares of the company were trading at Rs 1,577.40 per piece, up 1.73% or Rs 26.85 on BSE.