Godrej Consumer Products Falls As Q1 Profit Misses Estimates
The stock fell as much 4.66% in early trade to Rs 1,433.70 apiece on the NSE.
Shares of Godrej Consumer Products Ltd. fell nearly 5% on Thursday after the company's consolidated net profit missed estimates in the April–June period of the current financial year as revenue declined.
The maker of Goodknight mosquito repellent posted Rs 451 crore in net profit in the first quarter, which is 7.4% lower than Rs 487 crore estimated in a Bloomberg's survey.
The decline in revenue resulted in lower-than-expected Ebitda and profit. The depreciation of the Indian rupee during the first quarter impacted underlying revenue growth, the company said in a press release.
GCPL Q1 FY25 Earnings Highlights (Consolidated, YoY)
Revenue fell 3% to Rs 3,332 crore (Bloomberg estimate: Rs 3,509 crore).
Operating profit rose 7% to Rs 727 crore (Estimate: Rs 750 crore).
Margin expanded to 21.8% versus 19.8% (Estimate: 21.4%).
On the NSE, GCPL's stock fell as much 4.66% in early trade to Rs 1,433.70 apiece, the lowest since Aug. 2. It was trading 4.24% lower at Rs 1,440 per share, compared to a 0.20% decline in the benchmark Nifty at 09:51 a.m.
The share price has gained 42.65% in the last 12 months and 27.33% on a year-to-date basis. The total traded volume so far in the day stood at 3.3 times its 30-day average. The relative strength index was at 49.14.
Twenty-seven out of the 35 analysts tracking the company have a 'buy' rating on the stock, five recommend 'hold' and three suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 4.8%
