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Godrej Consumer is expecting double-digit volume and value growth for the quarter that ended in March.
Led by home and personal care double-digit volume and value growth, the company stated its India business exceeded expectations.
“Our domestic branded business growth was very strong registering volume and value growth in teens. This is in line with our strategy of volume-driven category development,” Godrej Consumer said in a stock exchange filing.
The company is expected to deliver double-digit growth led by mid-single-digit volume growth.
Godrej Consumer recently introduced lowered-price products in household insecticides in an attempt to drive the penetration up. Further, the company stated it gained market share in its hair colour portfolio after it introduced an ₹15 crème format hair colour.
The company posted a consolidated net profit of ₹546.34 crore for the quarter that ended in December.
In its international business — Godrej Africa, USA, and Middle East (GAUM) witnessed a temporary pause in double-digit sales growth momentum, clocking higher than mid-single-digit sales growth. This was due to elections and the impact of demonetisation in Nigeria. The company has seen a strong sales recovery in March, while its Indonesia business is seeing a gradual recovery in performance with mid-single-digit sales growth.
Also read: Godrej Consumer to use AIF route to invest in businesses, says CFO Sameer Shah
FMCG major, Marico, also stated earlier its India business saw improved volume growth for the quarter.
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