Gillette India's Sales Rise 10%, Profit Dips 4% In Jan-Mar
Gillette India's sales rise 10% to Rs 681 crore in Jan-Mar; profit dips 4% to Rs 99.09 crore, impacted by one-time tax effects.
Shaving products maker Gillette India on Monday reported a 4% decline in profit after tax at Rs 99.09 crore for the third quarter ended March 31, 2024. The company had a profit after tax of Rs 102.70 crore in the January-March period of 2023.
The company, which follows the July-June financial year, delivered sales of Rs 681 crore, up 10% from the year-ago period, driven by superior innovations across the portfolio, and strong brand fundamentals, according to a regulatory filing.
"Profit After Tax stood at Rs 99 crore, up 20% operationally fueled by top-line growth, continued premiumization and productivity interventions. Reported profit after tax was down 4% vs a year ago due to one-time tax impacts in the base and current quarters," Gillette India said in a regulatory filing.
LV Vaidyanathan, Managing Director, Gillette India Ltd said, 'we remain committed to a focused product portfolio of daily use categories where performance drives brand choice, superiority across product performance, packaging, brand communication, retail execution and consumer and customer value productivity, constructive disruption, and an agile and accountable organization.
"We are confident that these strategies will continue to help us deliver balanced growth and value creation."
Shares of Gillette India on Monday settled at Rs 6,209.25 on BSE, down 0.75% from their previous close.
