Homegrown FMCG major Godrej Consumer Products Ltd (GCPL) on Tuesday reported a whopping 73.45% increase in net profit at Rs 334.14 crore for the fourth quarter ended March 31, 2013, on the back of robust growth in domestic business.
Signalling the progression of the next generation of the promoter family in management of the company, which had posted a net profit of Rs 192.64 crore in the same quarter of previous fiscal, Nisaba Godrej, daughter of GCPL chairman Adi Godrej, has been appointed as an executive director with effect from July 1.
Net sales during the period under review stood at Rs 1,715.51 crore as against Rs 1,323.04 crore, up 29.66%, the company said.
Commenting on the performance, GCPL Chairman Adi Godrej said: “Our sales growth remains healthy and we continue to carry forward the strong momentum from the earlier quarters. We continue to intensify our focus on innovation.”
Shares of GCPL closed at Rs 836 per scrip, down 2.27% on the BSE.
GCPL also announced a top level management change with the appointment of Vivek Gambhir as its MD with effect from July.