Godrej Consumer Q1 net up 16%

Written by fe Bureau | Mumbai | Updated: Aug 4 2013, 05:56am hrs
FMCG major Godrej Consumer Products (GCPL), makers of Cinthol soaps and Renew hair colour, on Saturday reported a 16.46% increase in its net profit at Rs 107 crore in the first quarter of the current fiscal as compared to Rs 91.94 crore in the corresponding period last year.

The company has posted an increase of 18.70% in its net sales at R923 crore during the April-June quarter against Rs 777.66 crore during the same period last year.

Announcing the results, Adi Godrej, chairman, said: 'In a challenging environment, we have delivered robust operating performance this quarter. Our focus on sustaining and extending leadership in our core categories has enabled us to grow significantly ahead of the market.

According to Godrej, GCPL is scouting for strategic buys in developing markets in Africa, Asia and South America as part of its inorganic growth strategy. We will continue to support our new launches with strong marketing investment. In Q1 FY14, GCPLs consolidated advertising and publicity spend was up 54%, he added.

Overall expenses of the company in the quarter were at Rs 798 crore, up 19.05% as against Rs 670 crore in the same quarter last year.

Grasim Industries Q1 net down 15%

Aditya Birla group firm Grasim Industries on Saturday reported 15.04% decline in consolidated net profit at R610.01 crore for the first quarter ended June 30. The company had posted a consolidated net profit of R718 crore during the same period of previous fiscal, Grasim Industries said in a filing to the BSE. The company's consolidated income from operations stood at R6,895.08 crore in the April-June quarter, compared to R6,795.48 crore during the same period last year. Grasim Industries' consolidated revenue from its Viscose Staple Fibre and Wood Pulp segment was R1,367.61 crore this quarter as against R1,202.83 crore in the same period of last fiscal.

Divis Labs Q1 net up 4% at Rs 174.71 cr

Drug firm Divis Laboratories on Saturday reported 4.37% rise in net profit to R174.71 crore for the quarter ended June 30, on account of robust sales and increase in forex gains. The company had posted a net profit of R167.38 crore for the corresponding period previous fiscal, Divis Laboratories said in a filing to BSE. The total income of the company also rose to R517.15 crore for the quarter under consideration from R469.51 crore for the year ago period, it added. Forex gain for the current quarter amounted to R43 crore as against a gain of R30 crore during the corresponding quarter last year, Divis Laboratories said.

Canara Bank Q1 net up 2.2% at Rs 792 cr

State-owned Canara Bank on Saturday reported a marginal 2.2% rise in net profit at R792.07 crore for the first quarter of 2013-14 fiscal due to higher provisioning. The Bangalore-headquartered bank had posted net profit of R775.24 crore in the corresponding quarter (April-June) of the previous fiscal. Total income of the bank also increased to R10,507.88 crore during Q1FY14, up from R9,165.47 crore of Q1FY13, it said in a filing to the BSE. The net non-performing assets (NPAs) of the bank during the quarter came down to 2.48% from 1.66% in the previous fiscal. Gross NPAs also increased to 2.91% in the first quarter of FY14 from 1.98% in the corresponding period of FY13.

Oriental Bank Q1 profit drops 10%

Oriental Bank of Commerce on Saturday reported a 9.7% decline in net profit to R353.38 crore in the first quarter ended June 30 on account of higher provision-ing. The public sector bank had posted a net profit of R391.42 crore in the first quarter a year earlier. Total income increased 11.93% to R5,255.70 crore from R4,695.5 crore in the corresponding year-ago period, bank chairman SL Bansal said. Provisions rose to R734.89 crore against R505.12 crore in the same period of the previous fiscal. Gross NPAs as a percentage of total advances rose to 3.36% from 2.97%. Net NPAs went up to 2.34% from 2.05%. PTI