Godrej Consumer Products has reported mid-single-digit volume growth in the domestic market for the July-September quarter, despite challenging macros and adverse weather conditions.
In a quarterly update on Thursday, the company stated, “Overall, Home Care volumes grew in mid-single digit while Personal Care grew in low-single digit.”
The performance of the Park Avenue and KamaSutra brands, acquired earlier this year from Raymond Group, has “improved sequentially and are on track to achieve full-year guidance,” the update added.
“In India, we witnessed weak macros and adverse weather conditions during the quarter. Despite the tough operating environment, our organic business delivered steady performance with mid-single-digit volume growth,” said Godrej Consumer Products Ltd (GCPL).
In international markets, GCPL’s Indonesia business showed improving performance, achieving double-digit volume and value growth. “Godrej Africa, USA, and Middle East (GAUM) continued its consistent performance with constant currency sales growth in mid-teens,” the company reported.
However, due to adverse currency translation impact, there will be a mid-single-digit sales decline in rupee terms, GCPL added.
“At a Consolidated level (organic), we expect to deliver mid-single digit volume growth, double-digit constant currency sales growth, and low single-digit sales growth in INR terms. Sales growth (incl. inorganic) to be in mid-single digit in INR terms,” stated GCPL.
The company clarified that this quarterly update provides an overall summary of the operating performance and demand trends during the quarter ended September 30, 2023. “This will be followed by a detailed performance update, post the approval of the 2Q FY24 financial results by the Board of Directors,” it added.
