Consolidated total revenue from operations during the quarter under review was Rs 3,598.92 crore as compared to Rs 3,302.58 crore in the same period last year, it added.
The total cost was higher at Rs 2,969.52 crore compared to Rs 2,714.32 crore in the same quarter a year ago, the company said.
“We delivered an all-round performance in 3Q FY 2023. Total revenue grew 9 percent and we witnessed a strong sequential increase in underlying volume growth,” GCPL Managing Director and CEO
The company had broad-based growth across regions, with India delivering double-digit revenue growth of 11 percent, he said.
“The performance of our Indonesian business is gradually recovering and is down 3 percent in rupee and constant currency terms,” added Sitapati.
On the outlook, he said: “As commodity pressures ease, we expect a gradual recovery in consumption, expansion of gross margins, upfront marketing investments with a significant focus on reducing manageable costs and improving profitability in the coming quarters. ”
GCPL continues to have a healthy balance sheet and is also net cash positive, said Sitapati, adding “we are on track with our journey to reduce inventories and wasted costs and are deploying this to drive profitable and sustainable volume growth in our portfolio through category development.”
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