 "Godrej")
Sale of products fell 3 per cent to Rs 3,311 cr.
India’s Godrej Consumer Products reported a smaller-than-expected rise in first-quarter profit on Wednesday, as its household insecticides saw soft demand.
The Cinthol soap maker reported a consolidated net profit of Rs 451 cr ($54 million) for the quarter ended June 30, up from Rs 319 cr a year earlier.
Analysts had on average expected a profit of 4.92 billion rupees, as per LSEG data.
Sale of products fell 3 per cent to Rs 3,311 cr.
The company announced its entry into the pet care business, in which it will invest 5 billion rupees over 5 years.
Branded consumer goods makers have reduced prices to compete with smaller rivals that offer cheaper alternatives, which has negatively impacted top-line growth.
However, they are reaping the benefits from a recovery in demand in rural areas.
Rival Saffola oil maker Marico reported a slightly bigger-than-expected increase in first-quarter profit, while Dabur India reported a first-quarter profit in line with expectations.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 07 2024 | 4:57 PM IST
