Godrej Consumer Products (GCPL) has delivered largely an in-line performance in 3QFY18 led by improved domestic business. While consolidated net sales rose by 9% YoY to Rs26bn (vs. our estimate of Rs26.4bn) and EBITDA grew by 13.8% YoY to Rs5.6bn (vs. our estimate of Rs5.7bn), consolidated net profit surged by 22.1% YoY to Rs4.3bn, ahead of our estimate of Rs4bn. Revenue growth on comparable basis in constant currency terms stood at 11% with domestic growth of...