Godrej Consumer Products Limited (GCPL), a leading emerging markets FMCG company, on Monday announced its financial results for the quarter ended June 30, 2018.
1Q FY 2019 FINANCIAL PERFORMANCE SUMMARY:
- 1Q FY 2019 consolidated constant currency sales increased by 10%* year-on-year
– India business sales growth of 14%* year-on-year, led by 14% volume growth
– International business sales growth of 7% year-on-year, on a constant currency basis
- 1Q FY 2019 consolidated constant currency EBITDA increased by 26%
- 1Q FY 2019 consolidated net profit and EPS (without exceptional items and one-offs) increased by 36%
- The board has declared an interim dividend of 200% (INR 2.00 per share) and an issue of bonus shares in the ratio of one equity share for every two equity shares held, subject to requisite approvals.
*Comparable growth assuming GST in the base quarter sales
Commenting on the financial performance of 1Q FY 2019, Nisaba Godrej, Executive Chairperson, GCPL, said: “We have had a good start to fiscal year 2019 with profitable, ahead of the market growth across most geographies and categories. Our constant currency sales increased by 10% and EBITDA increased by 26%, led by robust gross margin expansion. In India, we delivered a sales growth of 14%, with 14% volume growth and double-digit growth across all categories. In our international business, we saw a recovery in Indonesia, while our performance in Africa was relatively soft.
Consumer demand is improving and we expect this recovery to sustain going forward. In India, while we expect both urban and rural growth to improve, rural growth will outpace urban growth on the back of remonetisation, the settling down of the GST implementation and the government’s efforts to stimulate the rural economy. ”
