Godrej Consumer Products Ltd reported a net profit of Rs 935.24 crore in the quarter ended March 31, compared to a profit after tax (PAT) of Rs 617.19 crore in the same period last year. The fourth-quarter profit included a tax write-back of Rs 533.45 crore.
The company's total revenue fell 3.1 percent to Rs 2,452.58 crore in the March quarter from Rs 2,531.15 core in the year-ago quarter. The company's profit before tax fell over 3 percent to Rs 500.57 crore in the fourth quarter of FY19, compared to Rs 737.59 crore a year ago.
A CNBC-TV18 poll estimated a net profit of Rs 420 crore and revenue of Rs 2,583 crore in the quarter.
"Our India business remained soft on account of a general slowdown in staples consumption and the adverse impact of the delayed summer on our portfolio," said Nisaba Godrej, executive chairperson.
"For the fiscal year 2020, we are eyeing robust sales growth in India on the back of a continued focus on innovations and enhancements to our go-to-market model. We hope to continue driving profitable sales growth in Indonesia, while focusing on profitable sales growth in Africa, and ensuring a meaningful turnaround in our Latin American business.”
Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 578 crore, down 4.06 percent from Rs 602.5 crore in the same period of 2018. Fourth quarter margin came in at 23.6 percent as against 23.8 percent in the March 2018 quarter.