Bengaluru: Godrej Consumer Products It reported its lowest overall revenue growth in 14 quarters on Wednesday due to a slowdown in demand for its products, especially from the country’s hinterland.
The company’s consolidated total revenue from operations rose 1.7% to 36.60 billion rupees ($440.7 million) for the three months ended December 31.
While urban demand persists, consumer goods companies are preferring Hindustan Unilever And Marico is complaining of weak rural demand as buyers cut back on spending due to an uneven monsoon and expensive essential commodities.
Total expenses declined by 1%, which helped synthol The soap maker’s net profit rose 6.4% to Rs 5.81 billion, beating analysts’ estimates.
The company introduced new products in its ‘Home Care’ segment to expand its offerings at a time when local and cheaper options are luring cash-strapped consumers.
Its core domestic business, which accounted for 60% of total revenue, grew 9.7%, supported by sales of its mosquito repellent, air freshener and detergent brands. Godrej Consumer Said.
The company’s shares closed 0.7% lower ahead of the results.