Shares of
Godrej Consumer Products Ltd. traded near record highs after the company reported a strong set of numbers for the past quarter on the back of higher sales and lower raw material costs that lead to an expansion in margins.
Godrej Consumer said its first quarter net profit rose 39 percent to 199 crore rupees compared with 143 crore rupees in the same quarter a year ago. Sales during April-June rose 11 percent to 2,098 crore rupees versus 1,888 crore rupees, the company said. Godrej said its Operating Margin in Q1 rose to 15 percent compared with 12.8 percent a year ago.
Godrej Consumer rose 43 rupees, or 3.5 percent, to 1,242 rupees on the
National Stock Exchange, where 1.78 lakh shares were traded in the three hours of trade compared with a 5-day average of 1.50 lakh shares.
The market capitalisation of Godrej Consumer has gained 42 percent to 42,000 crore rupees in the past one year as investors preferred the safety of large cap companies with predictable profit and revenue streams.
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