Dividend stocks: Godrej Consumer, Nippon Life shares to trade ex-dividend today. Details here

Dividend stocks 2023: The board of directors of these companies have declared interim dividend for its eligible shareholders
09-11-2023
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Q2FY24 Quarterly Result Announced for Godrej Consumer Products Ltd.

Personal Products company Godrej Consumer Products announced Q2FY24 results: Q2FY24 sales grew by 9% to Rs 2,129 crore; volume grew by 11% Q2FY24 EBITDA grew by 30% to Rs 552 crore Q2FY24 net profit without exceptions and one-offs grew by 10% to Rs 379 crore Q2FY24 Consolidated sales grew by 6% in INR terms, led by volume growth of 10%; constant currency growth of 16% YoY India business sales grew by 9% YoY, led by volume growth of 11% Indonesia sales grew by 16% in INR terms and 14% in constant currency terms, YoY Africa, USA, and Middle East sales declined by 5% in INR terms and grew by 17% in constant currency terms, YoY Latin America and SAARC sales grew by 5% in INR terms and 99% in constant currency terms, YoY Q2FY24 Consolidated net profit grew by 17% YoY (without exceptional items and one-offs) The Board of Directors has declared an interim dividend of 500% (Rs 5 per share). This would result in a payout of Rs 511 crore. Commenting on the business performance of Q2FY24, Sudhir Sitapati, Managing Director and CEO, GCPL, said, "We delivered a steady performance in 2Q FY2024, despite the tough operating environment. Our Consolidated volumes grew in double-digits at 10% while sales grew by 6%. Sales in constant currency terms grew by 16%. In India, we delivered 11% volume growth. In Indonesia, our performance continues to improve with double-digit constant currency growth of 14%. Africa, the USA, and the Middle East continue to grow in double-digits in constant currency terms, while performance in INR terms was impacted due to the Naira devaluation. Our quality of profits continued to improve consistently over the last few quarters with the reported Consolidated Gross Margin improving sharply by 700 bps year-on-year and 110 bps quarter-on-quarter. Our EBITDA Margin, too, improved by 360 bps year-on-year despite continued media investments, which increased 33% year-on-year. We continue to remain focused on driving volume-led growth along with healthy investments in our brands and improvement in profitability. We continue to have a strong balance sheet. We are on track in our journey to reduce wasted costs and are deploying this to drive profitable and sustainable volume growth across our portfolio through category development. We remain committed to our purpose of bringing the goodness of health and beauty to consumers in emerging markets." Result PDF
02-11-2023

Godrej Consumer Q2 result cheers Street, brokerages say 'buy'

Godrej Consumer reported a consolidated net profit of Rs 432.77 crore for the July-September quarter, a 20.59 percent gain from the year-ago quarter
02-11-2023
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