Godrej Consumer Products Limited (GCPL), a leading emerging markets FMCG company, today announced its financial results for the quarter ending December 31, 2019.
3Q FY 2020 FINANCIAL PERFORMANCE SUMMARY:
- 3Q FY 2020 consolidated constant currency sales increased by 6% year-on-year
- India business sales grew 1% year-on-year; 7% year-on-year in volume terms
- International business sales grew 11% year-on-year, on a constant currency basis
- 3Q FY 2020 consolidated constant currency EBITDA increased by 2% year-on-year; consolidated EBIDTA margins maintained at 22.9%
- 3Q FY 2020 consolidated net profit and EPS (without exceptional items and one-offs) INR 423 crore and INR 4.14 respectively
- The board has declared an interim dividend of 200% (INR 2 per share)
Commenting on the financial performance of 3Q FY 2020, Nisaba Godrej, Executive Chairperson, GCPL, said: "We delivered a steady performance in the third quarter of fiscal year 2020. Our India business delivered a robust volume growth of 7% alongside gaining market shares across major categories, amid further deterioration in staples consumption. We expect a gradual recovery in the coming quarters for the FMCG industry and also for our business.
In our international businesses, Indonesia continued its strong performance with high single digit profitable sales growth driven by a consistent performance across categories and several go-to-market initiatives. In GAUM (Godrej Africa, USA, Middle East), we saw a sales recovery with higher than mid single digit constant currency sales growth. The performance was driven by an improved performance in our South and West Africa cluster. We continue to drive the scale up of the wet hair care business and the relaunch of the Darling brand in the dry hair category, along with expansion in distribution across GAUM.
Going ahead, we expect steady volume growth in India, supported by our continued focus on innovations and enhancements to our go-to-market model. We will continue to drive profitable sales growth in Indonesia, while focusing on profitability in Africa, and ensuring a meaningful turnaround in our Latin American business."
Shares of GODREJ CONSUMER PRODUCTS LTD. was last trading in BSE at Rs.737.5 as compared to the previous close of Rs. 738.05. The total number of shares traded during the day was 12780 in over 650 trades.
The stock hit an intraday high of Rs. 741.1 and intraday low of 728. The net turnover during the day was Rs. 9398962.