Shares of this FMCG stock under the ‘large-cap’ category jumped around 10 percent in Thursday’s trading session after the company reported financial results for the quarter ended December 2023. In the past six months, the company’s stock has gained nearly 27 percent for its shareholders.
With a market capitalization of Rs 1.31 lakh crores, the stocks of Godrej Consumer Products Limited started their trading session on Thursday at Rs 1,205.25 and currently trade at Rs 1,279.70, gaining nearly 10 percent compared to the previous closing levels of Rs 1,164.15 apiece.
The company’s shares witnessed an intra-day high price of Rs 1,299.90 which is also marked as the company’s fresh 52-week high price.
Such bullish stock price movements were observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.
During the recent financial quarters, the company reported a jump in both the prime indicators of business, viz, operating revenues as well as after-tax profits with the former taking a shift from Rs 3,600 crores during Q2FY24 to Rs 3,623 crores during Q3FY24, and the after-tax profits, during the same period, rose nearly 35 percent, from Rs 433 crores to Rs 581 crores.
Moreover, the company, yearly, reported an increase in both metrics mentioned above with the operating revenues rising from Rs 3,598 crores during Q3FY23 to Rs 3,623 crores during Q3FY24, and the latter, keeping the timeframe the same, shifted from Rs 546 crores to Rs 581 crores.
As per the latest shareholding pattern data for the December 2023 quarter, the company’s Promoters hold a 63.21 percent stake, and the Foreign Institutional Investors (FIIs) hold a considerable stake of 22.94 percent in the company.
Godrej Consumer Products Limited is engaged in the business of household as well as personal care products. The company has three broad product categories including hair care, home care, and personal care. Its product portfolio includes Good Knight, Cinthol, Protekt, etc.
Written by Amit Madnani
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