On Thursday, local FMCG giant Godrej Consumer Products Ltd (GCPL) reported a marginal decline in consolidated profit after tax to Rs 363.24 crore for the fourth quarter ended March.
The company had posted a consolidated profit after tax of Rs 365.84 crore in the prior year period, GCPL said in a regulatory filing.
Total consolidated revenue from operations during the quarter under review stood at Rs 2,915.82 crore compared to Rs 2,730.74 crore for the corresponding period a year ago.
Total expenditure in the fourth quarter was higher at Rs 2,535.06 crore compared to Rs 2,259.12 crore in the same period a year ago.
For the full financial year ended March 31, 2022, the company recorded a consolidated profit after tax of Rs 1,783.39 crore compared to Rs 1,720.82 crore in the previous financial year, it said. added.
Total consolidated revenue from operations in FY22 was Rs 12,276.5 crore compared to Rs 11,028.62 crore in FY21, GCPL said.
GCPL Managing Director and CEO Sudhir Sitapati said, “We had a weak performance in the fourth quarter of fiscal 2022. Overall sales increased 7% and our full-year sales were down. increased by double digits. However, this growth was driven by prices.”
GCPL said that during the fourth quarter, sales in India increased by 9% to Rs 1,604 crore, but volume decreased by 3%.
Sitapati added, “We continue to believe that with the relatively non-discretionary mass pricing of our portfolio and the very strong market share performance, volume growth will return in the medium term.”
From a category perspective, Sitapati said, “We had a strong performance in personal care, which was up 18%. Home care performed poorly and decreased by 7%.
In other markets, he said, businesses in Africa, the United States and the Middle East continued their robust growth trajectory, but the performance of Indonesian business was weak, declining 15% in rupees.
In a separate statement, GCPL announced two leadership appointments of Rajesh Sethuraman as ASEAN Managing Director and Vijay Kannan as Head of Business Transformation and Digital, as part of a broader digital-centric business transformation plan.
Sethuraman, a former vice president of digital process transformation at Unilever, spent 21 years at Hindustan Unilever, leading teams across all categories and divisions in South Asia and sub-Saharan Africa, the company said.
Kannan, currently global chief information and digital officer for Shell’s Global Lubricants business, was also chief IT officer for Hindustan Unilever, and previously worked at Asian Paints.
Commenting on the nominations, Sitapati said, “Their significant experience in digital transformation will be essential as we reimagine the next phase of GCPL’s growth journey.”
He added, “Our strategy is to grow category development based on relevance, access and marketing investments, and funded by a digital simplification of our business. We are reducing unnecessary inventory and costs to create important fuel for this growth. and digital transformation.
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