Godrej Consumer Q2 net profit at Rs 318 crore, jumps 43.7 per cent

Godrej Consumer Products Ltd (GCPL) reported a consolidated net profit of Rs 318.12 crore for the second quarter ended September 30, 2016-17. The Q2 net profit jumped 43.7 per cent on a on a year-on-year basis with respect to the same quarter.

It had reported net profit of Rs 221.43 crore in the July-September period of 2015-16, GCPL said in a BSE filing.

Its consolidated total income from operations was up 11.01 per cent during the quarter under review to Rs 2,439.35 crore as against Rs 2,197.28 crore a year ago. Its total expenses were up 10.94 per cent to Rs 2,009.27 crore as against Rs 1,811.05 crore of the second quarter of last fiscal.

"We have delivered a relatively strong operating performance in the second quarter of fiscal year 2017, with a consolidated constant currency sales growth of 15 per cent and constant currency EBITDA growth of 17 per cent. We continue to deliver EBITDA growth ahead of sales growth, despite a strong base from the previous year," said Godrej Group Chairman Adi Godrej said.

GCPL's revenue from India market was up 7.13 per cent to Rs 1,319.46 crore as against Rs 1,231.55 crore during the period, while contribution from global markets was Rs 1,144.09 crore, up 15.51 per cent, as against Rs 990.45 crore.

"Our international business grew by 25 per cent on a constant currency business. We delivered strong growth in Africa and Latin America. Our Indonesian business experienced temporary challenges due to an adverse season for Household Insecticides," he said.

GCPL's revenue form its Indonesian business was Rs 367.11 crore, up 6 per cent as against Rs 346.32 crore in the corresponding quarter of last fiscal.

"Our Indonesia business constant currency sales declined by 2 per cent due to the overall macroeconomic slowdown and adverse weather impact in Household Insecticides," the company said.

Revenue from Africa, which also includes Strength of Nature, was Rs 508.18 crore, up 58.19 per cent to Rs 321.24 crore.

While Contribution from other markets was down 16.75 per cent to Rs 268.80 crore as against Rs 322.89 crore. "The significant devaluation in several emerging marketcurrencies also impacted our reported growth," said Godrej.

In the first half of 2016-17, GCPL's consolidated net profit was up 68.16 per cent to Rs 563.38 crore as against Rs 335.02 crore in the year ago period.

GCPL's consolidated total income in the first half of the current fiscal was up 8.76 per cent at Rs 4,633.54 crore a against Rs 4,259.95 crore in the same period last year. GCPL stock was trading at Rs 1,528, down 0.20 per cent, on BSE.