Godrej Consumer Products is currently right there among the top three gainers on the BSE; the stock hit a 23-year life time high today at Rs.1299.90. The stock had got listed on the bourses in June’2001.

The market has given the company’s Q3FY24 earnings a big thumbs up.

The company posted a 2% (YoY) rise in consolidated revenue at Rs.3660 crore. EBITDA for the quarter rose 16% at Rs.841 crore while margins rose from 20.19% to 22.97%.

The company ended the quarter with a net profit of Rs.581 crore, up 6%.

In terms of the verticals, Home care segment grew 5% and Personal Care by 2%.

Indonesia showed a strong volume growth of 9% and its EBITDA margin rose 20.9%, up 70 bps.

Its Africa, USA and Middle East business delivered a sales growth of 14% in constant currency terms while performance in INR terms was impacted by the devaluation of Naira.

On Latin America and SAARC, business was severely impacted on account of the sharp devaluation of the Argentinian Peso, which has impacted nine months of revenue (due to hyper-inflation accounting). The company remains optimistic and said that the upcoming quarter could see normative performance.