GCPL records 12 per cent increase in net profit
ET Bureau, The Economic Times, 29 July 2016
GCPL posted a 12 per cent increase in net profit at INR 152 crore for the quarter ended June helped by lower commodity cost.
The maker of Cinthol soaps and Good knight mosquito repellent, however, saw sales at INR 1,048 crore unchanged, impacted by a stretched summer and the late onset of monsoon, resulting in a weak performance in household insecticides.
"We are hopeful that the good monsoons in India should lead to a pick-up in rural demand later this year. We should also see a boost to consumption in India, following the implementation of the Seventh Pay Commission and the passing of the Goods & Services Tax," said Adi Godrej, Chairman, Godrej Group.
While hair colour sales increased by 4 per cent led by high double-digit volume growth in Godrej Expert Rich Creme, household insecticides sales declined 11 per cent and soap sales grew 1 per cent impacted by deflationary pressures.