Godrej Consumer shares were trading almost 3% lower on Wednesday's trade after the company posted earnings for the April-June quarter.
The company reported a 3.1% drop YoY in its consolidated net profit at Rs 395 crore during the June quarter, after adjusting one-off items of Rs 95 crore. This was against Rs 407.6 crore profit reported in the year-ago period. Company's revenue fell by 12.5% YoY to Rs 2,327.3 crore in Q1 FY21 versus Rs 2,348.8 crore in Q1 FY20.
Following news, Godrej Consumer Products share price opened at Rs 692.10 and later touched an intraday low of Rs 672.95, falling 2.79% against the earlier close of Rs 692.25 on BSE.
Godrej Consumer shares trade higher than 50, 100 and 200-day but lower than 5 and 20-day moving averages. Godrej Consumer share has fallen 3.09% in the last 2 sessions of fall.
Market cap of Godrej Consumer rose to Rs 1. 23 lakh crore as of today's session. The stock price of Godrej Consumer has gained 2.18% in one month. The stock has fallen 0.2% in the last week, 5.4% in one month and 1% since the beginning of the year.
Godrej Consumer's Earnings before interest, tax, depreciation and amortisation (EBITDA) recorded 3.7% YoY growth to Rs 472.7 crore as against Rs 455.6 crore, while company's margin was at 20.3% versus 19.4%.
Commenting on 1QFY21 results of Godrej Consumer Products, Rajit Rajoriya, Equity Research Associate, Angel Broking said, "Both India and Indonesia business (which contributed to over 76% of overall sales) showed strong resilience and grew by 5% each. Africa, USA and the Middle East sales declined by 23% YoY, on a constant currency basis. Latin America & SAARC sales grew by 23% year-on-year, on a constant currency basis. From a category perspective, Household Insecticides, Hygiene and Value For Money (which contributed to 85% of our overall sales) grew by 9% YoY. Household Insecticides grew by 27% and Hygiene grew by 15%. Going forward we see good demand traction in the Household Insecticides and Hygiene segment with the ongoing product innovations in these segments."
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