Godrej Consumer Products Ltd on Wednesday reported a 24.5 per cent rise in its consolidated net profit to Rs 452.14 crore in the quarter ended March 31, as compared to Rs 363.24 crore in the same quarter in 2021-22. The company’s revenue from operations rose around 10 per cent to Rs 3,200 crore. In FY23, however, the company’s profit was down 4.5 per cent to Rs 1,702.46 crore from Rs 1,783.39 crore in FY22. The company had last month announced that it will buy the fast-moving consumer goods (FMCG) business of Raymond Consumer Care Ltd for Rs 2,825 crore.The brands that Godrej Consumer would be acquiring from Raymond Consumer are Park Avenue (for the FMCG category), KS, KamaSutra and Premium, through a slump sale.According to Godrej Consumer, for FY23, Raymond Consumer had reported a revenue of Rs 622 crore.”This acquisition allows us to complement our business portfolio and growth strategy with under-penetrated categories that offer a long runway of growth. Raymond is a leading player in the deodorants and sexual wellness categories with brands like Park Avenue and KamaSutra,” said Sudhir Sitapati, managing director and CEO of Godrej Consumer.These categories have the potential to deliver double-digit multi-decade growth given the low per capita consumption in India compared to similar emerging markets, he said.Godrej Consumer sells brands like mosquito repellent Good Knight, Cinthol soap among others.

Source: www.business-standard.com