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Gillette India profit rises 6% to Rs 86.8 crore; sales 8% higher at Rs 620 crore in July-September, Retail News, ET Retail

Gillette India profit rises 6% to Rs 86.8 crore; sales 8% higher at Rs 620 crore in July-September

New Delhi: Shaving product maker Gillette India on Friday reported a 5.91 per cent increase in its net profit at Rs 86.78 crore for the quarter ended on September 30, 2022, helped by premiumisation and market share growth. The company, which follows July-June financial year, had reported a profit of Rs 81.93 crore in the corresponding quarter of the previous fiscal.

Its revenue from operations was up 8.12 per cent to Rs 619.92 crore during the quarter under review as against Rs 573.31 crore of the corresponding quarter, Gillette India said in a BSE filing.

Gillette achieved market share growth, helped by a “strong brand fundamentals, the strength of product portfolio and improved retail execution”, the company said in its earnings statement.

Moreover, “premiumisation and deliberate productivity interventions” also helped in increasing its profit after tax, it said.

“Compared to the corresponding pre-Covid quarter three years ago, company sales are up 34 per cent and PAT is up 41 per cent,” the statement said.

However, Gillette India’s revenue from oral care was down 13.46 per cent to Rs 130.52 crore. It was Rs 150.83 crore in the April-June quarter of the last year.

Gillette India’s total expense was at Rs 502.66 crore, up 8.22 per cent in the July-September quarter, as against Rs 464.47 crore.

Its revenue from the grooming segment was at Rs 489.40 crore, up 15.83 per cent during the quarter, as against Rs 422.48 crore of the corresponding quarter.

Gillette India Managing Director L V Vaidyanathan said: “We remain committed to our integrated strategies, which have enabled us to build and sustain strong momentum. As the near term continues to be marked by cost and operating challenges, we remain focused on productivity and innovation to drive balanced top and bottom-line growth.”

Shares of Gillette India Ltd were on Friday afternoon trading at Rs 5,190.20 on BSE, up 0.55 per cent from the previous close.

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