Shares of FMCG major Godrej Consumer Products Ltd (GCPL) today fell by 2 per cent after the company reported 8.70 per cent decline in consolidated net profit for the quarter to June. The stock slipped 2.02 per cent to close at Rs 1,034.75 on BSE. During the day, it lost 2.96 per cent to Rs 1,024.80. At NSE, shares of the company went down by 1.54 per cent to close at Rs 1,037.25.
HCPL today reported 8.70 per cent decline in consolidated net profit at Rs 225.17 crore for the quarter to June due to tepid sales post-GST and higher expenses. The company had posted a net profit of Rs 246.65 crore in April-June a year ago.
Net sales during the period under review were up 3.42 per cent at Rs 2,266.69 crore, as against Rs 2,191.64 crore of the corresponding quarter of the previous fiscal, the company said in a BSE filing.