Godrej Consumer Products share price falls over 5% as it expects low-single digit sales decline in Q3
₹1,149.00 apiece on the BSE. The fall in Godrej Consumer shares comes after the FMCG company said it expects to see a low-single-digit sales decline in rupee terms at a consolidated level during the quarter ended December 31. In its Q3FY24 business update, Godrej Consumer Products said the operating environment in India continues to remain similar to Q2 and its organic business delivered steady underlying volume growth of mid-single digit.
“Growth was broad-based across both Home Care and Personal Care. Park Avenue and KamaSutra brands continue to perform well and are on track to achieve full-year ambition. Reported volume growth continues to be double digit," said Godrej Consumer Products.
Also Read: Marico share price falls 5% post Q3 updates; what should investors do? Here's what experts say The FMCG major’s Indonesia business reported nearly double digit volume growth and high-single digit constant currency sales growth. The GAUM (Godrej Africa, USA, and Middle East) business had a flattish to mild decline in volume growth. “This was driven by trade destocking in geographies that we plan to restructure in Q4.
Although it sustained double-digit constant currency sales growth, the impact of the Naira devaluation will result in high-single digit sales decline," the company added. The Latin America or LATAM business revenue has been severely impacted on account of the sharp devaluation in Argentinian Peso from 361 to 808 which due to hyperinflation accounting has impacted nine months of revenue. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) “This is likely to have a negative impact of mid-single digit on the
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