Gillette India, on Thursday, posted a net profit of Rs 103 crore for the March quarter due to strong brand fundamentals, strength of product portfolio, and improved retail execution. This is 48 per cent rise from Rs 69.31 crore a year ago, the company statement said.
Gillette India said in a BSE filing, “The company’s revenue from operation rose by 9.3 per cent to Rs 619 crore for the March quarter as compared to Rs 567 crore in the year-ago period.
In a regulatory filing, Gillette India said, “Total expenses rose nearly 11% in what the maker of Oral B toothbrushes called a ‘challenging’ cost environment. However, income tax expenses more than halved to Rs 20.17 crore.”
Revenue from its mainstay grooming segment, which accounts for over three-fourths of the total revenue, rose 10%, while oral care reported a nearly 7% increase.
Shares of Gillette India ended 0.12% down on Thursday ahead of the results. It fell 14% in the January-March quarter, compared with a 4% rise in the benchmark Nifty FMCG Index.
“We have continued to deliver strong growth in sales and profit, despite a challenging operating environment. We remain committed to our integrated strategies of a focused product portfolio, superiority, productivity, constructive disruption, and an agile and accountable organisation structure,” said LV Vaidyanathan, Managing Director, Gillette India Ltd.
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“These strategies build on each other and have collectively aided us in driving and sustaining a strong momentum. Our team’s strong execution of these strategies has enabled four quarters of consistent sales and profit growth. We’re confident they remain the right strategies to deliver balanced growth and value creation going forward,” he added.
(With inputs from agencies)
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