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Godrej Consumer Products shares extend losses, fall nearly 3% on poor Q1 results

LiveMint logoLiveMint 02-08-2017 PTI

New Delhi: Shares of FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday extended losses by falling by 2.73% after the company reported 8.70% decline in consolidated net profit for the quarter to June.

At 1.07pm, the scrip was trading at Rs937.00 to trade 2.83% lower on BSE.

At NSE, shares of the company were trading 3% lower at Rs935.20.

GCPL had reported 8.70% decline in consolidated net profit early this week at Rs225.17 crore for the quarter to June due to tepid sales post-GST and higher expenses.

The company had posted a net profit of Rs246.65 crore in April-June a year ago. Net sales during the period under review were up 3.42% at Rs2,266.69 crore, as against Rs 2,191.64 crore of the corresponding quarter of the previous fiscal, the company said in a BSE filing.

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