Godrej Consumer Products (GCPL) hit a record high of INR 1,886, up 7% on BSE in intra-day trade, after the company reported a strong 212% year-on-year jump in its consolidated net profit at INR 390 crore for the fourth quarter ended March 2017. The personal products maker had profit of INR 125 crore in the same quarter year ago.
Net sales of the company during quarter under review grew 11.8% at INR 2,380 crore on YoY basis. EBITDA margin improved to 22.2% from 20.7%.
"In the fourth quarter of fiscal year 2017, we delivered strong operational performance with gross sales growth of 13%, led by India, Africa and Latin America. Our EBITDA increased by 21%, driven by robust margin expansion across all our businesses," said Adi Godrej, Chairperson, GCPL.
Post remonetisation, we are seeing a good recovery in FMCG demand in India. We are hopeful that a timely and successful implementation of the transformative Goods & Service Tax (GST) will spur stronger growth for the sector in the second half of fiscal year 2018, added Adi Godrej.
Meanwhile, the board has declared an interim dividend of 1,200% (INR 12.00 per share), and an issue of bonus shares in the ratio of one equity share for each equity share held, subject to requisite approvals.
At 12:23 pm, the stock was up 6.5% at INR 1,872 on BSE as compared to 0.05% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 679,890 shares changed hands on the counter on BSE and NSE so far.