Godrej Consumer estimates double-digit Q1 sales growth on strong demand
Godrej Consumer said in a statement that overall consumer demand in India has remained flat as seen in the past few quarters
Indian consumer products company Godrej on Wednesday estimated that its sales increased in the double-digit percentage range in the June quarter, driven by strong demand for home care and personal care products.
Godrej Consumer said its home care business unit in India, which includes the Goodknight and HIT brands, posted double-digit volume growth in the three months ended June 30, while it posted above-average single-digit growth in personal care. Cinthol soap section.
“In India, aggregate consumer demand has remained flat as seen in the previous few quarters,” Godrej Consumer said in a statement. The business accounted for approximately 57% of its total revenue in the immediately prior quarter.
The company estimated that its total sales volume, including overseas markets, rose in the high single-digit percentage range.
Godrej Consumer also said that “the quality of its earnings has seen sustained improvement, led by strong gross margin expansion.”
Shares last rose 1.4% at 1,076.95 Indian rupees ($13.08), extending their 21.5% gain so far this year.
Godrej Consumer also expects to have some expenses related to its acquisition of the Park Avenue and KamaSutra brands.
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First published: Jul 05 2023 | 1:38 p.m ist