Godrej Consumer says reported volume growth continues to be double digit in December quarter
Godrej Consumer Products on Friday provided a quarterly update wherein it has said that the reported volume growth in India continues to be double digit for the quarter ended on December 31, 2023. The FMCG giant also stated that the operating environment continues to remain similar to the second quarter.
«Despite this, our organic business delivered steady underlying volume growth of mid-single digit. Growth was broad-based across both Home Care and Personal Care,» said Godrej in an exchange filing.
As per the company, The recently acquired Raymond Consumer Care brands, Park Avenue and KamaSutra, continue to perform well and are on track to achieve full-year ambition.
It is to be noted that in the previous quarter, the above stated brands registered sales of Rs 142 crore.
While its Indonesia business delivered close to double digit volume growth and high-single digit constant currency sales growth, the Godrej Africa, USA, and Middle East business had 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 consumer goods giant explained.
Apart from this, owing to sharp devaluation in Argentinian Peso from 361 to 808 and hyperinflation in Latin America (LATAM), Godrej Consumer business here has been severely impacted, effecting nine months of revenue.
" This is likely to have a negative impact of mid-single digit on the consolidated sales.
However, the impact on profit is minimal. Despite the challenging environment, the LATAM business continues to deliver positive volume growth," the
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