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FMCG company Godrej Consumer Products has reported a steep 28.4 percent year-on-year decline in the second quarter consolidated profit at Rs 413.88 crore, meeting analyst expectations.

Its profit in the corresponding period last fiscal stood at Rs 577.73 crore.

Revenue during the quarter fell 1.14 percent to Rs 2,630.2 crore compared to year-ago, with domestic volume growth at 7 percent.

“Volume growth was led by new product launches, effective marketing campaigns and consumer offers,” company said in its BSE filing.

The international business delivered constant currency sales growth of 7 percent, it added.

The operating performance of the company remained strong as earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 17.5 percent year-on-year to Rs 571.9 crore and margin expanded 340bps to 21.7 percent in quarter ended September 2019.

The stock was quoting at Rs 746.00, up Rs 24.10, or 3.34 percent on the BSE at 1302 hours IST.