Godrej Q2 sales up 48 percent, profit soars
Monday, 30 October 2006, 08:00 Hrs
New Delhi: Diversified major Godrej Consumer Products Ltd (GCPL) reported improved performance in the second quarter of the current fiscal ending September 30, with sales revenue going up by 48 percent to 2.32 billion ($51 million).
The company's profit before tax (PBT) for the quarter has surged by 25 percent to 368 million compared to 295 million in the corresponding period last year, according to a company release.
"During the quarter, we completed the acquisition of Rapidol, a highly strategic and accretive transaction which has given us a foothold in the fast growing African ethnic hair colour market," said Adi Godrej, chairman and managing director, GCPL.
"Going forward, our thrust will be three-pronged. Firstly, we will look at strengthening growth in our present business categories, secondly we propose to identify new business opportunities within the FMCG (fast moving consumer goods) sector and we will continue to drive inorganic growth," he added.
The company's flagship brand, Cinthol, has also shown significant growth in the quarterly sales, as well as its personal care segment, sales of which have increased by 15 percent as against last year.
Sales of toiletries have increased at a rate of 37 percent with the acquisition of Britain's Keyline Brands Ltd.
The company also has designs for a 1.1 billion expansion in its soap and personal care business segments, which is likely to be completed by March 2007, said the release.
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