Godrej profit doubles
Monday, 25 January 2010
MUMBAI, Jan 24 (Business Standard): The consolidated net profit of Godrej Consumer Products Ltd rose 112 per cent to Rs 850 million in the third quarter ended December 2009, against Rs 400 million in the same period the previous year. Net sales were up 53 per cent in the quarter at Rs 52 billion, from Rs 34 billion a year earlier.
On a standalone basis, the company's net profit increased 44 per cent to Rs 560 billion during the period, from Rs 390 million a year earlier. Net sales were up 16 per cent, at Rs 3 billion in the quarter, from Rs 2.08 billion a year ago.
The company attributed its modest standalone performance to its domestic business, which grew 16 per cent in the third quarter. Its consolidated figures were better since the international business did well, growing 26 per cent during the period under consideration.
The company took up a number of initiatives on the international front to boost sales. These include rolling out 50-ml and 100-ml Cuticura packs to new retail chains under its keyline brands business in the UK.
The company introduced the Godrej No 1 soap in the South African wholesale market under its Rapidol business, besides launching two new hair colours in the same market during the quarter.
On a standalone basis, the company's net profit increased 44 per cent to Rs 560 billion during the period, from Rs 390 million a year earlier. Net sales were up 16 per cent, at Rs 3 billion in the quarter, from Rs 2.08 billion a year ago.
The company attributed its modest standalone performance to its domestic business, which grew 16 per cent in the third quarter. Its consolidated figures were better since the international business did well, growing 26 per cent during the period under consideration.
The company took up a number of initiatives on the international front to boost sales. These include rolling out 50-ml and 100-ml Cuticura packs to new retail chains under its keyline brands business in the UK.
The company introduced the Godrej No 1 soap in the South African wholesale market under its Rapidol business, besides launching two new hair colours in the same market during the quarter.