Godrej Consumer announces lower Q2 profit of Rs.26.14 Crores

Godrej Consumer Products Ltd has announced the following Unaudited results for the quarter ended September 30, 2006:

The Company has posted a net profit of Rs 261.40 million for the quarter ended September 30, 2006 as compared to Rs 278.10 million for the quarter ended September 30, 2005. Total Income (net of excise) has increased from Rs 1631.30 million for the quarter ended September 30, 2005 to Rs 1830.60 million for the quarter ended September 30, 2006.

The Consolidated results are as follows:

The Group has posted a net profit of Rs 310.00 million for the quarter ended September 30, 2006. Total Income (net of excise) is Rs 2346.60 million for the quarter ended September 30, 2006.

Further the Company has informed that, the Board has declared a second interim dividend @ Rs 0.75/- per share (75% on the shares of the face value of Re 1/- each) for the financial year 2006-07.

Commenting on the results, Mr. Adi Godrej, Chairman and Managing Director, of the Company, said, "GCPL continues to deliver healthy operating performance and encouraging growth across all its categories. During the quarter, we completed the acquisition of Rapidol, a highly strategic and accretive transaction which has given us a foothold in the fast growing African ethnic hair colour market. Going forward, our thrust will be three pronged. Firstly, we will look at strengthening growth in our present business categories, secondly we propose to identify new business opportunities within the FMCG sector and last but not the least, we will continue to drive inorganic growth."

Source : Equity Bulls

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