Gillette India posted 34.4% decrease in standalone net profit to Rs 69.31 crore for quarter ended March 2022 as against Rs 105.66 crore in quarter ended March 2021.
Revenue from operations were at Rs 566.52 crore for the quarter ended 31 March 2022 as against Rs 536.62 crore during the same period last year, registering a growth of 5.57%. The FMCG company said that revenues were driven by strong brand fundamentals, strength of product portfolio and improved retail execution.Profit before tax for quarter ended March 2022 stood at Rs 110.03 crore, down by 24.75% from Rs 146.22 crore in quarter ended March 2021. Profitability was dented after the company reported an 11.27% increase in total expenses to Rs 457.79 crore in quarter ended March 2022 as compared to the previous quarter last year.
On segmental front, revenue from grooming segment stood at Rs 446.65 crore, up 8.86% YoY while revenue from oral care segment stood at Rs 119.87 crore, up 5.1% YoY, during the period under review.
Madhusudan Gopalan, managing director of Gillette India said, In a challenging market environment, we recorded robust sales growth during the quarter driven by the strength of our grooming and oral care product portfolio and strong retail execution. We will focus on improving productivity to minimize the effect of commodity cost inflation which is expected to impact the industry in short to medium term. In the long-term, we will stay the course on our strategy to drive balanced top and bottom-line growth enabled by superiority, improving productivity, leading constructive disruption, and strengthening our organization and culture.
Gillette India is one of India's well-known FMCG companies that has some of the world's leading brands Gillette and Oral B.
Shares of Gillette India were trading 3.63% higher at Rs 5290 on BSE.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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