Godrej Consumer domestic business grew 1%

Mumbai: Godrej Consumer Products posted a 9 per cent year-on-year increase in its standalone net profit for the quarter ended June at Rs 240 crore on sales that grew 1 per cent. The maker of Cinthol soaps and GoodKnight mosquito repellent reported sales at Rs 1,290 crore in its domestic business for the first quarter with volume growth of 5 per cent.

"Our India business delivered a steady volume growth of 5 per cent, amidst a general slowdown in staples consumption. We expect a gradual recovery in the coming quarters for the industry and also for our business," Nisaba Godrej, Executive Chairperson, GCPL, said.

Godrej Consumer Products’ volume sales of household insecticides declined 4 per cent year, while soap sales grew 3 per cent. Hair colour sales,were flat, it said in a statement. Margin expanded 140 basis points driven by gross margin expansion and lower variable linked remuneration in employee cost.