Godrej Consumer net up 54% at Rs 248 cr

MUMBAI: Godrej Consumer Products (GCPL), makers of Cinthol soaps and Godrej hair colours, said annual net profit rose 54% to Rs 248 crore for the year ended March on higher income and lower costs.

The Mumbai-based company said sales rose 17% to Rs 1,268 crore in the financial year and costs fell 4% to Rs 215 crore. Fourth quarter net profit also went up by 12.5% to Rs 63 crore, compared to the year-ago period.

The sharp jump in consolidated earnings is because of the acquisition of Africa- based Tura and Indonesian company Megasari Makmur.

Integration of Sara Lee has contributed in the profit for the year, said Ajay Parmar, head of research, Emkay Global. The GCPL stock lost 3% to close at Rs 297.70 in a flat market.