Godrej Consumer Products stock jumps 3% after fourth-quarter results

“We had a strong year-end with volume-driven double-digit sales growth in the fourth quarter of fiscal 2023. Consolidated sales were up 10% in INR and 14% in constant currency. “We continued to see a sequential improvement in volume growth with a 6% year-over-year increase in the fourth quarter,” said Sudhir Sitapati, Managing Director and CEO of GCPL.

Sitapati further said that the company expects to build on the current momentum and deliver volume-led growth along with upfront investments in marketing and profitability improvement. “We remain true to our goal of bringing the benefits of health and beauty to consumers in emerging markets.”

According to the company, business revenue in India grew 12% year over year, led by 11% volume growth, while clusters in Africa, the U.S. and the Middle East delivered high-single-digit revenue growth of 8% on a constant currency basis. Core business performance in Indonesia is improving with revenue growth of 5% at constant exchange rates, it said.

On a segment basis, home care business grew 14%, while personal care grew 17%.

Last month, the company acquired Raymond Consumer Care Limited’s (RCCL) FMCG (Fast Moving Consumer Goods) business for ₹2,825 crore. Raymond owns deodorant and sexual wellness brands such as Park Avenue and KamaSutra.

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