Why Godrej Consumer Products Shares Are On The Up Today

Godrej Consumer Products shares were on the up on Thursday after the leading FMCG company announced a 20.59% YoY increase in net profit, reaching ₹432.77 crore for the September quarter of FY23-24. The company’s revenue reached ₹3,602 crore during this quarter.

Godrej Consumer Products Q2 Performance: In the same quarter of the previous financial year, the company made a net consolidated profit of ₹358.86 crore. The total revenue saw a 6.19% rise, reaching ₹3,601.95 crore, up from ₹3,391.92 crore last year.

Godrej Consumer Products declared an interim dividend of ₹5 per share, which translates to 500% on shares with a face value of Re 1 each.

See also: Why This Tata Stock Is Falling Today

The company’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBIDTA) rose by 29.9% to ₹704 crore in Q2FY24, with an EBITDA margin of 19.6%.

The company’s home care segment profits saw a notable improvement, growing by 5%. While household insecticides remained stable due to weak monsoons, air freshener sales consistently grew. On the other hand, Godrej’s personal care segment dropped by 1% during the quarter. However, products like Magic handwash showed strong growth, while hair colour brands experienced a slight increase in volume.

Price Action: Godrej Consumer Products Limited shares were trading 1.06% higher at ₹985.00 shortly after market open on Thursday.

Read Next: Work From Office 10 Days Of Month, Says Infosys After Founder's Call For 70-Hour Work Week

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: Godrej Consumer Products