Godrej Consumer Products Limited (GCPL) which produces home and personal care products on Tuesday reported a year-on-year growth in its net profit by 16.75% at Rs 310.07 crore compared with Rs 265.57 crore from the previous year’s quarter.
According to Bloomberg consensus estimates, the company was expected to make a net profit (adjusted) of Rs 312 crore. This increase was driven by sales growth of 10% led by high single-digit volume growth and lower crude oil prices which continued to boost gross margins, the company said.
The consolidated net sales grew by 8.80% at Rs 2,266.06 crore for the quarter ending March 2016 higher against Rs 2,082.61 crore from the previous year’s quarter. Bloomberg consensus estimate expected the net sales to be at Rs 2,272.5 crore.
GCPL’s net profit for the financial year 2015-16 was recorded at Rs 1,119.41 crore from Rs 907.12 crore in the previous year. Its net sales increased to Rs 8,957.15 crore against Rs 8,242.20 crore from the previous year.
Consolidated earnings before interest taxes depreciation and amortisation (EBITDA) in Q4 FY 2016 increased by 13.75% at Rs 443.56 crore from previous year’s Rs 389.92 crore. EBITDA expected by Bloomberg Consensus Estimates was Rs 455.5 crore. EBITDA for FY16 was recorded at R1624.15 crore from Rs 1371.62 crore from FY15.
The company’s household insecticides business recorded a double digit growth of 10%.