Godrej Consumer Products Ltd.’s quarterly earnings beat analysts estimates aided by a one-time gain.
The FMCG company reported a net profit jump of 59.2 percent to Rs 617.19 crore for the three-month period ending March, it said in an exchange filing. That compares with the Bloomberg consensus estimate of Rs 445 crore.
The profit was boosted by an exceptional income of Rs 194 crore on account of an earn-out liability of a subsidiary.
Total income during the quarter grew 11 percent to Rs 2,528.9 crore, marginally below Rs 2,621 crore estimated.
Earnings before interest, taxes, depreciation and amortisation rose 13.9 percent to Rs 596.7 crore. Ebitda margin during the quarter met Bloomberg estimates at 23.6 percent. The company’s branded volume grew 6 percent during the reporting three months.
Household insecticides business declined 5 percent in the March quarter due to adverse season in Jan.-Feb. However, average growth rates are back to double digits for March-April 2018, the company said.