Shares of Godrej Consumer Products rose more than 5% in early morning trading on May 7. This happened after the company reported better-than-expected domestic organic volume growth of 7% and an increase in profit margins.
Godrej Consumer Products is a major fast-moving consumer goods (FMCG) company. Its popular brands include Cinthol, HIT, Good Knight and Ezee.
In results announced after market hours on Monday, the company reported a consolidated net loss of Rs 1,893.2 crore for the January-March quarter. This was due to a one-time charge of Rs 2,376 crore for restructuring costs. A year ago, in the same quarter, the company had a net profit of Rs 452.1 crore.
According to a regulatory filing, Godrej Consumer Products had revenue of Rs 3,385.6 crore for the March quarter, up 5.8% compared to the same period last year. This growth was driven by higher demand for its home and personal care products.
At 9:40 am, shares of Godrej Consumer Products were trading 6.23% higher at Rs 1,328 on the NSE.
