Godrej Consumer Q2 Profit Misses Estimates
Godrej Consumer Products reported a lower-than-expected second-quarter profit rise as surging commodity costs weighed on earnings. Consolidated net profit rose nearly fourteen percent to 5.23 billion rupees while total expenses jumped significantly.
GODREJ CONSUMER PRODUCTS LTD reported a 14% rise in net profit to 5.23 billion rupees ($54.88 million) for the quarter ended September, missing analyst estimates. The consumer goods maker faced rising input costs despite strong market demand. India's macroeconomic backdrop included intensified commodity inflation.
Consolidated net profit rose to 5.23 billion rupees from 4.59 billion rupees a year earlier, falling short of the 5.39 billion rupees consensus estimate compiled by LSEG. Total expenses jumped 20.6% to 37.58 billion rupees during the period. Raw material costs rose 8.5%, while expenses related to purchased finished inventory surged 61.3%.
