Godrej reports net loss of Rs 1,893 crore for the March quarter

Godrej Consumer Products Limited (GCPL) reported a consolidated net loss of Rs 1,893 crore for the March quarter against a net profit of Rs 452 crore. The company reported Rs 581.06 crore in the previous quarter.

The quarter also includes one-time exceptional loss of Rs 2,376 crore.

The total revenue of the company stood at Rs 3,385.61 crore, rising 6 percent from Rs 3,200.16 crore a year ago, the company said in a regulatory filing.

The board also recommended interim dividend at Rs. 10 per share for the financial year 2023-24.

"We continue to remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. We are launching new products in accordance with our purpose to bring the goodness of health and beauty to consumers." said Sudhir Sitapati, MD and CEO.

Home Care saw a 6 percent growth, with Air Fresheners and Fabric Care segments displaying robust performance. Air Fresheners maintained double-digit volume growth, led by Aer's market leadership and increased market share. Fabric Care experienced strong double-digit growth, driven by brands like Fab, Genteel, and Ezee. Household Insecticides had a slower quarter due to extended winter in the North and parts of the East, though the non-mosquito portfolio remained strong.

In the realm of Personal Care, the latest introduction, Goodknight Agarbatti, is gaining traction and revolutionizing the Rs 21,200 crore market of Mosquito Incense Sticks, primarily dominated by illicit players.

Goodknight Agarbatti stands out as India's sole government-registered active anti-mosquito incense stick, employing a novel molecule, RNF, which boasts nearly double the efficacy of most other registered molecules utilized in India.

GCPL holds exclusive rights to utilize this molecule in the medium term. Personal Care witnessed a 4 percent growth primarily driven by volume. Personal Wash exhibited robust high single-digit volume growth, bolstering our market share through effective media campaigns and targeted micro-marketing endeavors. Notably, Magic Handwash sustained impressive double-digit volume growth.

Park Avenue and KamaSutra maintained their strong sales momentum as seen in Q4, achieving sales of 137 crore in line with seasonal trends of the category. The integration process has been finalized, and synergistic benefits have begun to materialize since Q4.