Godrej Consumer reports 212% jump in Q4 net profit; shares rise
Consumer goods major Godrej Consumer Products on Tuesday announced its financial result for the quarter ended on March 31. The company reported a consolidated net profit of Rs 390 crore in Q4FY17, a jump of 212% as against Rs 125 crore during the same quarter last year (Q4FY16).
The company's net profit from India business in Q4FY17 stood at Rs 253 crore, up 21% from Rs 210 crore in Q4FY16.
The net profit for whole financial year was Rs 848 crore, a rise of 17% as against Rs 723 crore in the last fiscal.
The net sales from the consolidated business (including India and International business) was Rs 1326 crore, a rise of Rs 10% as compared to Rs 1210 during the same quarter last year.
Commenting on the financial performance of Q4FY17, Adi Godrej, Chairman, GCPL, said, " While delivering this robust profitable growth, we have maintained or extended our market shares across most of our categories in our markets. We have also made competitive investments in brand building and innovation for our future growth.
"In the fourth quarter of fiscal year 2017, we delivered strong operational performance with sales growth of 13%, led by India, Africa and Latin America. Our EBITDA increased by 21%, driven by robust margin expansion across all our businesses," Godrej said.
Moreover, the adjusted EBITDA stood at Rs 319 crore, an increase of 17% in Q4FY17 as compared to Rs 272 crore in Q4FY16.
Further, talking about demonetisation and GST, Godrej said, "Post remonetisation, we are seeing a good recovery in FMCG demand in India. We are hopeful that a timely and successful implementation of the transformative Goods & Service Tax (GST) will spur stronger growth for the sector in the second half of fiscal year 2018."
Announcing the major rejig at the Board level, the company said that Nisaba Godrej, currently the Executive Director of the company, will be the Executive Chairperson. Chairman Adi Godrej will assume the Chairman Emeritus position at Godrej Consumer Products.
After reporting robust financial result, the shares of the company jumped by 8%. At 1249 hours the shares of the company were trading at Rs 1896.90 per piece, up 7.90% or Rs 138.85 on BSE.