“Godrej Consumer Products Surges 10% on Stellar Q3 Results, Achieving Fresh 52-Week High”
In a remarkable turn of events, shares of FMCG giant Godrej Consumer Products witnessed a stellar 10 percent surge during Thursday’s trading session, fueled by robust financial results for the quarter ending December 2023. Over the past six months, the stock has notched an impressive 27 percent gain for shareholders.
The stock reached an intra-day high of Rs 1,299.90, marking a fresh 52-week high, signaling a bullish trajectory. The positive momentum followed the company’s disclosure of Q3FY24 results through a regulatory filing with the Bombay Stock Exchange (BSE).
During the recent financial quarters, Godrej Consumer Products exhibited significant growth in key business indicators. Operating revenues saw a noteworthy shift from Rs 3,600 crores in Q2FY24 to Rs 3,623 crores in Q3FY24. Simultaneously, after-tax profits surged by almost 35 percent, climbing from Rs 433 crores to Rs 581 crores within the same period.
On an annual basis, the company continued its upward trajectory, reporting increased operating revenues from Rs 3,598 crores in Q3FY23 to Rs 3,623 crores in Q3FY24. After-tax profits followed suit, rising from Rs 546 crores to Rs 581 crores during the same timeframe.
As of the latest shareholding pattern for December 2023, the company’s Promoters maintain a robust 63.21 percent stake, with Foreign Institutional Investors (FIIs) holding a substantial 22.94 percent stake.
Godrej Consumer Products Limited, known for its diverse product portfolio including brands like Good Knight, Cinthol, and Protekt, operates in the household and personal care products sector. This surge in stock value underscores the company’s solid performance, making it a standout player in the FMCG landscape. Investors and market watchers are keeping a keen eye on the continued success story of Godrej Consumer Products Limited.
