New Delhi: Shares of Godrej Consumer Products Ltd (GCPL) on Tuesday surged almost 10% after the company reported an over three-fold jump in consolidated net profit for the quarter ended 31 March.
The stock zoomed 9.74% to settle at Rs 1,929.25 on BSE. During the day, it surged 11.27% to Rs 1,956.20 -- its 52-week high.
On NSE, shares of the company jumped 9.98% to close at Rs 1,929.40. Led by the sharp rally in the stock, the company’s market valuation rose by Rs 5,831.41 crore to Rs 65,710.41 crore. In terms of volume, 2.10 lakh shares of the company were traded on BSE and over 20 lakh shares changed hands on NSE during the day.
GCPL today reported an over three-fold jump in consolidated net profit to Rs389.91 crore for the fourth quarter ended March 31, 2017 driven by strong sales growth in most categories. The company, which also announced a change in leadership with appointment of Nisaba Godrej as executive chairperson from May 10, 2017, had posted a net profit of Rs124.84 crore in the January-March period a year ago.
GCPL’s net sales during the period under review was up 12.51% to Rs 2,480.17 crore as against Rs 2,204.36 crore of the corresponding quarter of the previous fiscal, the company said in a statement.