Godrej Consumer Products on Monday said demand in the third quarter for this fiscal continued to be challenging, impacted by a general consumption slowdown, stressing that it expects gradual improvement in consumer demand in the upcoming quarters. “During the quarter (ended December 31, 2019), we witnessed relatively mixed demand across some of our geographies of operations… In India, demand continued to be challenging, impacted by a general consumption slowdown,” Godrej Consumer Products (GCPL) said in a filing to BSE.
Despite weak demand conditions, we continued our marginally higher than mid single-digit volume growth trend during the quarter,” it added.
The uplift in volume growth, it said, was led by gradual recovery in household insecticides, new product launches, effective marketing campaigns and tactical consumer offers.
The sales value growth also mirrors the trend of past few quarter’s sales value growth.
“We look forward to a gradual improvement in consumer demand in the quarters ahead driven by good monsoon and government stimuli,” it added.